0001193125-23-183796 | F-1/A | XBRL Viewer

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Major Non-Cash Transactions - Additional Information (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Major Non-Cash Transactions [Line Items]
Right-of-use assets	$ 991,000	$ 1,036,000
Lease liabilities	991,000	1,036,000
Treasury shares	68,000	1,647,000	$ 3,252,000	$ 322,000
Non Cash Transaction [Member]
Disclosure of Major Non-Cash Transactions [Line Items]
Right-of-use assets	548,000	53,000	309,000
Lease liabilities	548,000	53,000	309,000
Treasury Shares [Member] \| Non Cash Transaction [Member]
Disclosure of Major Non-Cash Transactions [Line Items]
Treasury shares	1,579,000	1,605,000	169,000
Unvested Restricted Shares [Member] \| Non Cash Transaction [Member]
Disclosure of Major Non-Cash Transactions [Line Items]
Unvested restricted shares	1,579,000	1,605,000	169,000
Unvested Share Options [Member] \| Non Cash Transaction [Member]
Disclosure of Major Non-Cash Transactions [Line Items]
Unvested restricted shares	$ 0	$ 0	$ 3,099,000

Share Capital/Treasury Shares

12 Months Ended

Dec. 31, 2022

Disclosure of Share Capital Reserves and other Equity Interest [Abstract]

Share Capital/Treasury Shares

25.	SHARE CAPITAL/TREASURY SHARES

Share capital

The share capital as of December 31, 2020, 2021 and 2022 represented the issued ordinary share capital of the Company.


	Notes		Number of shares		Par value per share		Amount
					US$		US$
Authorized:
As of January 1, 2020, December 31, 2020, 2021 and 2022				444,343,488				44

Issued and fully paid:
As of January 1, 2020				360,791,045				36
Exercise of share options		(i)		25,949,960		0.0001		3

As of December 31, 2020				386,741,005				39
Exercise of share options vested		(ii)		6,511,135		0.0001		1

As of December 31, 2021				393,252,140				40
Exercise of share options vested		(ii)		8,552,187		0.0001		1

As of December 31, 2022				401,804,327				41

All the ordinary shares and restricted shares issued during the years ended December 31, 2020, 2021 and 2022 rank

pari passu

with the existing shares in all respects.

Notes:

(i)

During the year ended December 31, 2020, share option holders exercised their rights to subscribe for 2,873,037 and 23,076,923 shares in the Company at exercise price of US$0.01 and US$0.26 per share, respectively. Out of the 23,076,923 shares at exercise price of US$0.26 per share, 11,918,299 shares were issued upon the early exercise of the share options during the vesting period and these shares are subject to the Repurchase Option (as defined in Note 26) and regarded as unvested restricted shares. The consideration received by the Group on these shares amounting to US$3,099 was recorded as financial liabilities arising from unvested restricted shares (details are set out in Note 22).

(ii)

During the year ended December 31, 2021, share option holders exercised their rights to subscribe for 6,004,989, 134,375 and 371,771 ordinary shares in the Company at an exercise price of US$0.01, US$0.02 and US$0.21 per share, respectively.

(iii)

During the year ended December 31, 2022, share option holders exercised their rights to subscribe for 498,958, 7,088,541, 101,146 and 863,542 ordinary shares in the Company at an exercise price of US$0.01, US$0.02, US$0.21 and US$0.26 per share, respectively.

Treasury shares


	Number of treasury shares			Subscription price per share		Amount
				US$		US$
As of January 1, 2020		40,583,273					322
Unvested share options early exercised		11,918,299			0.26		3,099
Restricted shares vested		(26,135,657	)		0.003~0.01		(169	)

As of December 31, 2020		26,365,915					3,252
Restricted shares vested		(6,352,715	)		0.01		(64	)
Early exercised share options vested		(5,926,452	)		0.26		(1,541	)

As of December 31, 2021		14,086,748					1,647
Restricted shares vested		(1,164,666	)		0.01		(21	)
Early exercised share options vested		(5,991,847	)		0.26		(1,558	)

As of December 31, 2022		6,930,235					68

Treasury shares represented unvested restricted shares granted to the directors of the Company and an employee of the Group and the unvested restricted shares issued upon the early exercise of share options as elected by the director of the Company during the vesting period as disclosed in Note 26.

Consolidated Statements of Profit or Loss and Other Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit (loss) [abstract]
Other income	$ 1,447	$ 1,054	$ 2,060
Other gains and losses	(829)	36	144
Fair value change of financial assets at fair value through profit or loss ("FVTPL")	323	2	108
Fair value change of convertible preferred shares	(189,646)	(37,424)	(26,572)
Research and development expenses	(35,457)	(35,568)	(31,441)
Administrative expenses	(9,947)	(15,291)	(11,043)
Impairment loss of an intangible asset	0	(3,000)	(1,000)
Issuance costs for convertible preferred shares			(3,782)
Finance costs	(93)	(83)	(72)
Other expense	(6,608)	(4,522)	(3,307)
Loss before taxation	(240,810)	(94,796)	(74,905)
Income tax credit (expense)	(1)	(1)	85
Loss and total comprehensive expenses for the year, attributable to owners of the Company	$ (240,811)	$ (94,797)	$ (74,820)
Loss per share
— Basic (US$)	$ (0.62)	$ (0.23)	$ (0.21)
— Diluted (US$)	$ (0.62)	$ (0.23)	$ (0.21)

Income Tax (Credit) Expense - Summary of Information about Components of Tax Expense Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Major components of tax expense (income) [abstract]
current year	$ 1	$ 1	$ (205)
over-provision in respect of prior years	0	0	(58)
Deferred tax	0	0	178
Tax expense (income)	$ 1	$ 1	$ (85)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2022
Document Information [Line Items]
Document Type	F-1/A
Amendment Flag	false
Entity Registrant Name	Apollomics Inc.
Entity Central Index Key	0001944885
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation, State or Country Code	E9
Entity Primary SIC Number	2834
Entity Address, Address Line One	989 E. Hillsdale Blvd., Suite 220
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	209-4055
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Sanjeev Redkar
Entity Address, Address Line One	989 E. Hillsdale Blvd., Suite 220
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	209-4055

Dividends - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Dividends [Abstract]
Dividends Paid	$ 0	$ 0	$ 0

Financial Instruments - Summary of Sensitivity Analysis of Foreign Exchange Rate (Detail) - Currency Risk [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
RMB [Member]
Disclosure Of Detailed Information About Sensitivity Analysis of Foreign Exchange Rate [Line Items]
Impact on loss for the year	$ 386	$ 295	$ (18)
AUD [Member]
Disclosure Of Detailed Information About Sensitivity Analysis of Foreign Exchange Rate [Line Items]
Impact on loss for the year	$ (7)	$ 22	$ 49

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about intangible assets [abstract]

Summary of Intangible Assets


	Patent rights (available for use)			Patent rights (not yet available for use)			Total
	US$			US$			US$
	(note i)			(note ii)
COST
As of January 1, 2021		375			11,000			11,375
Addition		—			7,500			7,500

As of December 31, 2021 and 2022		375			18,500			18,875

AMORTIZATION AND IMPAIRMENT
As of January 1, 2021		(57	)		(1,000	)		(1,057	)
Charge for the year		(20	)		—			(20	)
Impairment loss recognized		—			(3,000	)		(3,000	)

As of December 31, 2021		(77	)		(4,000	)		(4,077	)
Charge for the year		(20	)		—			(20	)

As of December 31, 2022		(97	)		(4,000	)		(4,097	)

CARRYING VALUES
As of December 31, 2021		298			14,500			14,798

As of December 31, 2022		278			14,500			14,778

Notes:

(i)

The patent rights grant the Group the right to use certain scientific data for research and manufacture of pipelines, namely

APL-501,

APL-502

and

APL-509.

(ii)

These patent rights are not yet available for use by the Group as the Group is still undergoing

pre-clinical

study application or clinical trials on the relevant drugs in designated territories under the patent rights and has yet to obtain regulatory approval for the new drug to be launched to the market. The patent rights are tested for impairment annually and whenever there is an indication that they may be impaired. Amortization will commence when the patent rights are available for use (i.e. when they are ready for commercialization and have obtained the regulatory new drug application approval in the designated territories) by the Group. During the years ended December 31, 2020, 2021 and 2022, patent rights with carrying amount of US$1,000, US$3,000 and nil were impaired, respectively. For these patent rights, as they were acquired for combination trial of an existing drug candidate, which was subsequently replaced by another formulation, or acquired for self-development that the Group cannot proceed further research due to the failure in providing drug supplies by the original vendor according to the agreement.

Accordingly, the Group has fully impaired the patent rights with reference to their respective recoverable amounts determined on value in use calculations.

Time Deposits with Original Maturity Over Three Months/Cash and Cash Equivalents - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Time Deposits With Banks [Line Items]
Description of periods when cash flows expected to occur	12 months	12 months
Bottom of Range [Member]
Disclosure Of Time Deposits With Banks [Line Items]
Time deposits, interest rate	0.01%	0.01%
Top of Range [Member]
Disclosure Of Time Deposits With Banks [Line Items]
Time deposits, interest rate	3.05%	0.05%
Fixed Interest Rate [Member]
Disclosure Of Time Deposits With Banks [Line Items]
Time deposits, interest rate	3.70%

Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Disclosure of Summary of Significant Accounting Policies [Abstract]

Significant Accounting Policies

4.	SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements have been prepared in accordance with the following accounting policies set out below which conform with IFRSs issued by the IASB. For the purpose of preparation of the consolidated financial statements, information is considered material if such information is reasonably expected to influence decisions made by primary users.

The consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments that are measured at fair value at the end of each reporting period, as explained in the accounting policies set out below.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in the financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2

Share-based Payments

, leasing transactions that are within the scope of IFRS 16

Leases

, and measurements that have some similarities to fair value but are not fair value, such as net realizable value in IAS 2

Inventories

or value in use in IAS 36

Impairment of Assets

For financial instruments which are transacted at fair value and a valuation technique that unobservable inputs are to be used to measure fair value in subsequent periods, the valuation technique is calibrated so that at initial recognition the results of the valuation technique equals the transaction price.

In addition, for financial reporting purposes, fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

•

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;

•

Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and

•

Level 3 inputs are unobservable inputs for the asset or liability.

The principal accounting policies are set out below.

Basis of consolidation

The consolidated financial statements incorporate the financial statements of Apollomics and entities controlled by Apollomics and its subsidiaries. Control is achieved when the Company:

•

has power over the investee;

•

is exposed, or has rights, to variable returns from its involvement with the investee; and

•

has the ability to use its power to affect its returns.

The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated statements of profit or loss and other comprehensive income from the date the Group gains control until the date when the Group ceases to control the subsidiary.

When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group’s accounting policies.

All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

Foreign currencies

In preparing the financial statements of each individual group entity, transactions in currencies other than the functional currency of that entity (foreign currencies) are recognized at the rates of exchanges prevailing on the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date.

Non-monetary

items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are recognized in profit or loss in the period in which they arise.

Government grants

Government grants are not recognized until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received.

Government grants related to income that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognized in profit or loss in the period in which they become receivable. Such grants are presented under “other income”.

Retirement benefits costs

Payments to defined contribution retirement benefit plans, including the defined contribution plan in the US, state-managed retirement benefit schemes in the People’s Republic of China (the “PRC”) are recognized as an expense when employees have rendered service entitling them to the contributions.

Short-term employee benefits

Short-term employee benefits are recognized at the undiscounted amount of the benefits expected to be paid as and when employees rendered the services. All short-term employee benefits are recognized as an expense unless another IFRS requires or permits the inclusion of the benefit in the cost of an asset.

A liability is recognized for benefits accruing to employees (such as wages, salaries and leave entitlement) after deducting any amount already paid.

Share-based payments

Equity-settled share-based payment transactions

Share options and restricted shares granted to employees and others providing similar services

Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date.

The fair value of the equity-settled share-based payments determined at the grant date without taking into consideration all

non-market

vesting conditions is expensed on a straight-line basis over the vesting period, based on the Group’s estimate of equity instruments that will eventually vest, with a corresponding increase in equity (share-based payment reserve). At the end of each reporting period, the Group revises its estimate of the number of equity instruments expected to vest based on assessment of all relevant

non-market

vesting conditions. The impact of the revision of the original estimates, if any, is recognized in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to the share-based payment reserve.

When share options are exercised or the restricted shares are vested, the amount previously recognized in share-based payment reserve will be transferred to other reserve. When the share options are forfeited after the vesting date or are still not exercised at the expiry date, the amount previously recognized in share-based payment reserve will be transferred to accumulated losses.

Taxation

Income taxation represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ‘loss before taxation’ because of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of each reporting period.

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial recognition of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.

Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of each reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of each reporting period, to recover or settle the carrying amount of its assets and liabilities.

For the purposes of measuring deferred tax for leasing transactions in which the Group recognizes the

right-of-use

assets and the related lease liabilities, the Group first determines whether the tax deductions are attributable to the

right-of-use

assets or the lease liabilities.

For leasing transactions in which the tax deductions are attributable to the lease liabilities, the Group applies IAS 12 requirements to the leasing transaction as a whole. Temporary differences relating to

right-of-use

assets and lease liabilities are assessed on a net basis. Excess of depreciation on

right-of-use

assets over the lease payments for the principal portion of lease liabilities resulting in net deductible temporary differences.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied to the same taxable entity by the same taxation authority.

Current and deferred tax are recognized in profit or loss.

Plant and equipment

Plant and equipment are stated at cost less subsequent accumulated depreciation and subsequent accumulated impairment losses, if any.

Depreciation is recognized so as to write off the cost of assets less their residual values over their estimated useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

An item of plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss.

Leases

Definition of a lease

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group assesses whether a contract is or contains a lease based on the definition under IFRS 16 at inception, modification date or acquisition date, as appropriate. Such contract will not be reassessed unless the terms and conditions of the contract are subsequently changed.

The Group as a lessee

Allocation of consideration to components of a contract

For a contract that contains a lease component and one or more additional lease or

non-lease

components, the Group allocates the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the

non-lease

components.

The Group applies practical expedient not to separate

non-lease

components from lease component, and instead account for the lease component and any associated

non-lease

components as a single lease component.

Short-term leases

The Group applies the short-term lease recognition exemption to leases of plant and equipment and laboratory premise, that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. Lease payments on short-term leases is recognized as expense on a straight-line basis over the lease term.

Right-of-use

assets

Except for short-term leases, the Group recognizes

right-of-use

assets at the commencement date of the lease (i.e. the date the underlying asset is available for use).

Right-of-use

assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities.

The cost of

right-of-use

assets includes the amount of the initial measurement of the lease liability.

Right-of-use

assets in which the Group is reasonably certain to obtain ownership of the underlying leased assets at the end of the lease term is depreciated from commencement date to the end of the useful life. Otherwise,

right-of-use

assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term.

The Group presents

right-of-use

assets as a separate line item on the consolidated statements of financial position.

Refundable rental deposits

Refundable rental deposits paid are accounted for under IFRS 9

Financial Instruments

and initially measured at fair value. Adjustments to fair value at initial recognition are considered as additional lease payments and included in the cost of

right-of-use

assets.

Lease liabilities

At the commencement date of a lease, the Group recognizes and measures the lease liability at the present value of lease payments that are unpaid at that date. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable.

The lease payments include fixed payments (including

in-substance

fixed payments) less any lease incentives receivable.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

The Group presents lease liabilities as a separate line item on the consolidated statements of financial position.

Intangible assets

Intangible assets acquired separately

Intangible assets with finite useful lives that are acquired separately are carried at costs less accumulated amortization and any accumulated impairment losses if any. Amortization for intangible assets with finite useful lives is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets not yet available for use that are acquired separately are carried at cost less any subsequent accumulated impairment losses.

Internally-generated intangible assets - research and development expenditure

Expenditure on research activities is recognized as an expense in the period in which it is incurred.

An internally generated intangible asset arising from development activities (or from the development phase of an internal project) is recognized if, and only if, all of the following have been demonstrated:

•

the technical feasibility of completing the intangible asset so that it will be available for use or sale;

•

the intention to complete the intangible asset and use or sell it;

•

the ability to use or sell the intangible asset;

•

how the intangible asset will generate probable future economic benefits;

•

the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and

•

the ability to measure reliably the expenditure attributable to the intangible asset during its development.

The amount initially recognized for internally-generated intangible asset is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.

Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses (if any), on the same basis as intangible assets that are acquired separately.

An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains and losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in profit or loss when the asset is derecognized.

Impairment on plant and equipment,

right-of-use

assets and intangible assets

At the end of each reporting period, the management of the Company reviews the carrying amounts of plant and equipment,

right-of-use

assets and intangible assets with finite useful lives to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the relevant asset is estimated in order to determine the extent of the impairment loss, if any. Intangible assets not yet available for use are tested for impairment at least annually, and whenever there is an indication that they may be impaired.

The recoverable amount of plant and equipment,

right-of-use

assets and intangible assets is estimated individually. When it is not possible to estimate the recoverable amount of an asset individually, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

In testing a cash-generating unit for impairment, corporate assets are allocated to the relevant cash-generating unit when a reasonable and consistent basis of allocation can be established, or otherwise they are allocated to the smallest group of cash generating units for which a reasonable and consistent allocation basis can be established. The recoverable amount is determined for the cash-generating unit or group of cash-generating units to which the corporate asset belongs, and is compared with the carrying amount of the relevant cash-generating unit or group of cash-generating units.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a

pre-tax

discount rate that reflects current market assessments of the time value of money and the risks specific to the asset (or cash-generating unit) for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or a cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. For corporate assets or portion of corporate assets which cannot be allocated on a reasonable and consistent basis to a cash-generating unit, the Group compares the carrying amount of a group of cash-generating units, including the carrying amounts of the corporate assets or portion of corporate assets allocated to that group of cash-generating units, with the recoverable amount of the group of cash-generating units. In allocating the impairment loss, the impairment loss is allocated first to reduce the carrying amount of any goodwill (if applicable) and then to the other assets on a

pro-rata

basis based on the carrying amount of each asset in the unit. The carrying amount of an asset is not reduced below the highest of its fair value less costs of disposal (if measurable), its value in use (if determinable) and zero. The amount of the impairment loss that would otherwise have been allocated to the asset is allocated pro rata to the other assets of the unit or a group of cash-generating units. An impairment loss is recognized immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit or a group of cash-generating units) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined

had no

impairment loss been recognized for the asset (or cash-generating unit or a group of cash-generating units) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents presented on the consolidated statements of financial position include:

(a) cash, which comprises of cash on hand and demand deposits; and

(b) cash equivalents, which comprises of short-term (generally with original maturity of three months or less), highly liquid investments that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.

For the purposes of the consolidated statements of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above.

Financial instruments

Financial assets and financial liabilities are recognized when a group entity becomes a party to the contractual provisions of the instrument. All regular way purchases or sales of financial assets are recognized and derecognized on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets or liabilities at FVTPL) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at FVTPL are recognized immediately in profit or loss.

The effective interest method is a method of calculating the amortized cost of a financial asset or financial liability and of allocating interest income and interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts and payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset or financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.

Financial assets

Classification and subsequent measurement of financial assets

Financial assets that meet the following conditions are subsequently measured at amortized cost:

•

the financial asset is held within a business model whose objective is to collect contractual cash flows; and

•

the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

All other financial assets are subsequently measured at FVTPL.

(i)

Amortized cost and interest income

Interest income is recognized using the effective interest method for financial assets measured subsequently at amortized cost. Interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become credit-impaired (see below). For financial assets that have subsequently become credit-impaired, interest income is recognized by applying the effective interest rate to the amortized cost of the financial asset from the next reporting period. If the credit risk on the credit-impaired financial instrument improves so that the financial asset is no longer credit-impaired, interest income is recognized by applying the effective interest rate to the gross carrying amount of the financial asset from the beginning of the reporting period following the determination that the asset is no longer credit impaired.

Interest income is recognized in profit or loss and is included in the “other income” line item.

(ii)

Financial assets at FVTPL

Financial assets of the Group that do not meet the criteria for being measured at amortized cost are measured at FVTPL.

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss. The net gain or loss recognized in profit or loss includes any interest earned on the financial asset and is presented as “fair value change of financial assets at FVTPL” line item.

Impairment of financial assets

The Group performs impairment assessment under expected credit loss (“ECL”) model on financial assets (including deposits, time deposits with original maturity over three months and cash and cash equivalents) which are subject to impairment under IFRS 9. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition.

Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. In contrast,

12-month

ECL represents the portion of lifetime ECL that is expected to result from default events that are possible within 12 months after the reporting date. Assessments are done based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions.

For all financial instruments, the Group measures the loss allowance equal to

12-month

ECL, unless when there has been a significant increase in credit risk since initial recognition, the Group recognizes lifetime

ECL. The assessment of whether lifetime ECL should be recognized is based on significant increases in the likelihood or risk of a default occurring since initial recognition.

(i)

Significant increase in credit risk

In assessing whether the credit risk on a financial instrument has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort.

Forward-looking information considered includes the future prospects of the industries in which the Group’s debtors operate, obtained from economic expert reports, financial analysts, governmental bodies, relevant think-tanks and other similar organizations, as well as consideration of various external sources of actual and forecast economic information that relate to the Group’s core operations.

In particular, the following information is taken into account when assessing whether credit risk has increased significantly:

•

an actual or expected significant deterioration in the financial instrument’s external (if available) or internal credit rating;

•

significant deterioration in external market indicators of credit risk for a particular financial instrument, e.g. a significant increase in the credit spread, the credit default swap prices for the debtor;

•

existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor’s ability to meet its debt obligations;

•

an actual or expected significant deterioration in the operating results of the debtor; and

•

an actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor that results in a significant decrease in the debtor’s ability to meet its debt obligations.

Irrespective of the outcome of the above assessment, the Group presumes that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the Group has reasonable and supportable information that demonstrates otherwise.

Despite the aforegoing, the Group assumes that the credit risk on a debt instrument has not increased significantly since initial recognition if the financial instrument is determined to have low credit risk at the reporting date. A financial instrument is determined to have low credit risk if i) the financial instrument has a low risk of default, ii) the borrower has a strong capacity to meet its contractual cash flow obligations in the near term and iii) adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfill its contractual cash flow obligations. The Group considers a debt instrument have low credit risk when it has an internal or external credit rating of “investment grade” as per globally understood definition.

The Group regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes past due.

(ii)

Definition of default

The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable.

•

when there is a breach of financial covenants by the counterparty; or

•

information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collaterals held by the Group).

Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate.

(iii)

Credit-impaired financial assets

A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:

(a)

significant financial difficulty of the issuer or the borrower;

(b)

a breach of contract, such as a default or past due event;

(c)

the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider; or

(d)

it is becoming probable that the borrower will enter bankruptcy or other financial reorganization.

(iv)

Write-off

policy

The Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A

write-off

constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss.

(v)

Measurement and recognition of ECL

The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data and forward-looking information as described above. Estimation of ECL reflects an unbiased and probability-weighted amount that is determined with the respective risk of default occurring as the weights.

Generally, the ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and the cash flows that the Group expects to receive, discounted at the effective interest rate determined at initial recognition.

Interest income is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit-impaired, in which case interest income is calculated based on amortized cost of the financial asset.

The Group recognizes an impairment gain or loss in profit or loss for all financial instruments by adjusting their carrying amount.

Derecognition of financial assets

The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.

On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss.

Financial liabilities and equity

Classification as debt or equity

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs.

Treasury shares

Own equity instruments held by the Company or the Group (treasury shares) are recognized directly in equity at cost. No gain or loss is recognized in the profit or loss on the purchase, sale, issue or cancelation of the Company’s own equity instruments.

Financial liabilities

All financial liabilities are subsequently measured at amortized cost using the effective interest method or at FVTPL.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when the financial liability is (i) contingent consideration of an acquirer in a business combination to which IFRS 3

Business Combinations

applies, (ii) held for trading or (iii) it is designated as at FVTPL.

A financial liability is held for trading if:

•

it has been acquired principally for the purpose of repurchasing it in the near term; or

•

on initial recognition it is part of a portfolio of identified financial instruments that the Group manages together and has a recent actual pattern of short-term profit-taking; or

•

it is a derivative, except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument.

A financial liability other than a financial liability held for trading or contingent consideration of an acquirer in a business combination may be designated as at FVTPL upon initial recognition if:

•

such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or

•

the financial liability forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or

•

it forms part of a contract containing one or more embedded derivatives, and IFRS 9 permits the entire combined contract to be designated as at FVTPL.

For financial liabilities that are designated as at FVTPL, the amount of change in the fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognized in other comprehensive income, unless the recognition of the effects of changes in the liability’s credit risk in other comprehensive income would create or enlarge an accounting mismatch in profit or loss. For financial liabilities that contain embedded derivatives, such as convertible preferred shares, the changes in fair value of the embedded derivatives are excluded in determining the amount to be presented in other comprehensive income. The remaining amount of change in the fair value of liability is recognized in profit or loss.

Changes in fair value attributable to a financial liability’s credit risk that are recognized in other comprehensive income are not subsequently reclassified to profit or loss; instead, they are transferred to accumulated losses upon derecognition of the financial liability.

Preferred shares

Preferred shares, which contain redemption features and other embedded derivatives, are designated as at financial liabilities at FVTPL.

Financial liabilities at amortized cost

Financial liabilities representing other payables and financial liabilities arising from unvested restricted shares are subsequently measured at amortized cost, using the effective interest method.

Derecognition of financial liabilities

The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, canceled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss.

Derivative financial instruments

Derivatives are initially recognized at fair value at the date when derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss.

Embedded derivatives

Derivatives embedded in

non-derivative

host contracts that are not financial assets within the scope of IFRS 9 are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at FVTPL.

Generally, multiple embedded derivatives in a single instrument that are separated from the host contracts are treated as a single compound embedded derivative unless those derivatives relate to different risk exposures and are readily separable and independent of each other.

Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Lease liabilities [abstract]

Summary of Detailed Information About Contractual Maturities of Lease Liabilities


	As of December 31,
	2021			2022
	US$			US$
Lease liabilities payable:
Within one year		508			614
More than one year, but not exceeding two years		476			126
More than two years, but not exceeding five years		52			251

		1,036			991
Less: Amount due for settlement within 12 months shown under current liabilities		(508	)		(614	)

Amount due for settlement after 12 months shown under non-current liabilities		528			377

Finance Costs

12 Months Ended

Dec. 31, 2022

Disclosure of Finance Cost [Abstract]

Finance Costs

9.	FINANCE COSTS


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Interest expenses on lease liabilities		72		83		93

Financial Liabilities Arising from Unvested Restricted Shares (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of financial liabilities [abstract]

Summary of Financial Liabilities Arising From Unvested Restricted Shares


	As of December 31,
	2021		2022
	US$		US$
Payables in respect of unvested restricted shares attributable to:
Dr. Yu (the chief executive of the Company)		1,647		68

Other Payables And Accruals - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Payables And Accruals [Abstract]
Current deposits from customers	$ 1,000	$ 1,000

General Information - Summary of Information about Consolidated Financial Statements and Company Principal Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2022
Apollomics Inc [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Apollomics, Inc.
Country of incorporation	California, United States
Date of incorporation	Jan. 14, 2016
Principal activities	Research and development of drugs
Apollomics Australia Pty Ltd [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Apollomics (Australia) Pty. Ltd.
Country of incorporation	Melbourne, Australia
Date of incorporation	Nov. 04, 2016
Principal activities	Research and development of drugs
Apollomics Hong Kong Limited [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Apollomics (Hong Kong) Limited
Country of incorporation	Hong Kong, China
Date of incorporation	Jun. 24, 2019
Principal activities	Investment holding
Zhejiang Crownmab Biotech Co Ltd [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Zhejiang Crownmab Biotech Co., Ltd.
Country of incorporation	Hangzhou, China
Date of incorporation	May 29, 2018
Principal activities	Investment holding and research and development of drugs
Zhejiang Crown Bochuang Biopharma Co Ltd [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Zhejiang Crown Bochuang Biopharma Co., Ltd.
Country of incorporation	Hangzhou, China
Date of incorporation	May 29, 2020
Principal activities	Research and development of drugs
Project Max SPAC Merger Sub Inc [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries	Project Max SPAC Merger Sub, Inc.
Country of incorporation	Delaware, United States
Date of incorporation	Aug. 19, 2022
Principal activities	Investment holding

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about financial instruments [abstract]

Summary of Categories of Financial Instruments

Categories of financial instruments


	As of December 31,
	2021		2022
	US$		US$
Financial assets
Financial assets at FVTPL		23,744		19,067
Amortized cost		78,702		39,983

Financial liabilities
Financial liability at FVTPL		322,215		511,861
Amortized cost		7,654		7,606

Summary of Assets and Liabilities Denominated in Foreign Currencies

The carrying amounts of the Group’s foreign currency denominated m

etary assets and monetary liabilities at the end of each reporting period are as follows:


	Assets				Liabilities
	As of December 31,				As of December 31,
	2021		2022		2021		2022
	US$		US$		US$		US$
Renminbi (“RMB”)		8,376		8,940		512		1,210
AUD		1,145		1,300		544		1,449

		9,521		10,240		1,056		2,659

Summary of Sensitivity Analysis of Foreign Exchange Rate


	Years ended December 31,
	2020			2021		2022
	US$			US$		US$
Impact of RMB on loss for the year		(18	)		295		386
Impact of AUD on loss for the year		49			22		(7	)

Summary of Internal Credit Risk Grading Assessment Comprises

The Group’s internal credit risk grading assessment comprises the following categories:


Internal credit rating	Description	Financial assets at amortized cost
Low risk	The counterparty has a low risk of default and does not have any past-due amounts	12-month ECL
Watch list	Debtor frequently repays after due dates but settles the amounts in full	12-month ECL
Doubtful	There have been significant increases in credit risk since initial recognition through information developed internally or external resources	Lifetime ECL - not credit-impaired
Loss	There is evidence indicating the asset is credit-impaired	Lifetime ECL - credit-impaired
Write-off	There is evidence indicating that the debtor is in severe financial difficulty and the Group has no realistic prospect of recovery	Amount is written off

Summary of Credit Risk Exposure

External

credit

rating

Internal

credit rating

12-month

ECL

or lifetime ECL

The Group

As of December 31,

2021

2022

US$

Financial assets at amortized cost (at gross carrying amount)

Deposits

N/A

Low risk

12-month ECL

120

129

Time deposits with original maturity over three months

N/A

12-month

ECL

31,842

7,179

Cash and cash equivalents

A3 to Aa2

N/A

12-month

ECL

46,740

32,675

78,702

39,983

Summary of Liquidity and Interest Risk

Liquidity and interest risk table


	Weighted average interest rate		On demand or less than 1 month		1 to 3 months		3 months to 1 year		1 to 2 years		2 to 4 years		Total undiscounted cash flows		Carrying amount
	%		US$		US$		US$		US$		US$		US$		US$
December 31, 2021
Convertible Preferred Shares (note)		12		—		—		—		318,399		—		318,399		274,966
Other payables		N/A		6,007		—		—		—		—		6,007		6,007
Financial liabilities arising from unvested restricted shares		N/A		1,647		—		—		—		—		1,647		1,647

Total				7,654		—		—		318,399		—		326,053		282,620

Lease liabilities		5.42		48		108		447		592		23		1,218		1,036

December 31, 2022
Convertible Preferred Shares (note)		12		—		—		—		338,492		—		338,492		378,332
Other payables		N/A		7,538		—		—		—		—		7,538		7,538
Financial liabilities arising from unvested restricted shares		N/A		68		—		—		—		—		68		68

Total				7,606		—		—		338,492		—		346,098		385,938

Lease liabilities		5.38		49		268		391		143		260		1,111		991

Summary of Financial Assets and Financial Liabilities are Measured at Fair Value

(i)

air value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis - continued

Fair value as of

Fair value

hierarchy

Valuation technique(s) and key

inputs

Significant

unobservable

inputs

Relationship of

unobservable

inputs to fair

value

December 31,

2021

2022

US$

Financial assets

Market fund

23,744

19,067

Level 2

Redemption value
quoted by banks
with reference to
the expected
return of the
underlying assets

N/A

Financial liabilities

Convertible Preferred Shares

322,215

511,861

Level 3

Black-scholes
model and OPM
method — the
key inputs are:
time to
liquidation, risk-
free rate,
expected
volatility and
possibilities for
IPO/liquidation
scenario

Possibility for
IPO scenario
(note)

The
higher the
possibility
for IPO
scenario,
the higher
the fair
value, and
vice versa

Schedule I - Additional Information (Detail)	12 Months Ended
Schedule I - Additional Information (Detail)	Dec. 31, 2022
Disclosure of Additional Information Explanatory [Line Items]
Minimum percentage requirement	25.00%

Convertible Preferred Shares - Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares (Detail) - Series C Preferred Shares [Member] - Preferred Shares [Member]	Dec. 31, 2022 yr	Dec. 31, 2021 yr	Dec. 31, 2020 yr
Time to Liquidate [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	1.25	1.5	1.5
Risk-free rate [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	4.65	0.56	0.12
Expected volatility (note) [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	75	72.5	80
Dividend Yield [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	0	0	0
Possibility Under IPO Scenario [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	85	25	45
Possibility Under Liquidation Scenario [Member]
Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares [Line Items]
Significant unobservable input, liabilities	15	75	55

Deferred Taxation - Disclosure of Detailed Information about Unrecognized Tax Losses Explanatory (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	$ 0	$ 0	$ 178
(Charge) credit to profit or loss	0	0	(178)
Deferred tax liability (asset)	0	0	0
Accelerated Tax Depreciation [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	(32)	(46)	(55)
(Charge) credit to profit or loss	(19)	14	9
Deferred tax liability (asset)	(51)	(32)	(46)
Accrual [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	32	46	233
(Charge) credit to profit or loss	19	(14)	(187)
Deferred tax liability (asset)	$ 51	$ 32	$ 46

Reconciliation of Liabilities Arising from Financing Activities - Summary of Detailed Information about Reconciliation of Liabilities Arising from Financing Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	$ 323,895	$ 286,813	$ 135,643
Financing cash flows	(686)	(1,784)	119,485
Fair value change	189,646	37,424	26,572
New leases entered	548	53	309
Issue costs in respect of convertible Series C Preferred Shares accrued			3,782
Issue costs accrued	(644)	1,306	950
Interest expense	93	83	72
Ending Balance	512,852	323,895	286,813
Convertible Preferred Shares [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	322,215	284,791	133,969
Financing cash flows	0	0	124,250
Fair value change	189,646	37,424	26,572
New leases entered	0	0	0
Issue costs in respect of convertible Series C Preferred Shares accrued			0
Issue costs accrued	0	0	0
Interest expense	0	0	0
Ending Balance	511,861	322,215	284,791
Lease liabilities [member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	1,036	1,511	1,674
Financing cash flows	(686)	(611)	(544)
Fair value change	0	0	0
New leases entered	548	53	309
Issue costs in respect of convertible Series C Preferred Shares accrued			0
Issue costs accrued	0	0	0
Interest expense	93	83	72
Ending Balance	991	1,036	1,511
Accrued Issuance Costs In Respect Of Convertible Preferred Shares [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	0	0	0
Financing cash flows	0	0	(3,782)
Fair value change	0	0	0
New leases entered	0	0	0
Issue costs in respect of convertible Series C Preferred Shares accrued			3,782
Issue costs accrued	0	0	0
Interest expense	0	0	0
Ending Balance	0	0	0
Accrued Share Issue Costs [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	644	511	0
Financing cash flows	0	(1,173)	(439)
Fair value change	0	0	0
New leases entered	0	0	0
Issue costs in respect of convertible Series C Preferred Shares accrued			0
Issue costs accrued	(644)	1,306	950
Interest expense	0	0	0
Ending Balance	$ 0	$ 644	$ 511

Financial Instruments - Summary Of Liquidity and Interest Risk (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Convertible Preferred Shares, Weighted Average Interest Rate	12.00%	12.00%
Lease liabilities, Weighted Average Interest Rate	5.38%	5.42%
Convertible Preferred Shares	$ 338,492	$ 318,399
Other payables	7,538	6,007
Financial liabilities arising form unvested restricted shares	68	1,647
Total	346,098	326,053
Lease liabilities	1,111	1,218
Convertible Preferred Shares, Carrying Amount	378,332	274,966
Other payables, Carrying Amount	7,538	6,007
Financial Liabilities arising from Unvested Restricted Shares, Carrying Amount	68	1,647
Total, Carrying Amount	385,938	282,620
Lease liabilities, Carrying Amount	991	1,036
On demand or less than 1 month [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Other payables	7,538	6,007
Financial liabilities arising form unvested restricted shares	68	1,647
Total	7,606	7,654
Lease liabilities	49	48
1 to 3 months [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease liabilities	268	108
3 months to 1 year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease liabilities	391	447
1 to 2 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Convertible Preferred Shares	338,492	318,399
Total	338,492	318,399
Lease liabilities	143	592
Lease liabilities, Carrying Amount	126	476
2 to 4 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease liabilities	$ 260	$ 23

Right-of-Use Assets - Summary of Right-of-Use-Assets Depreciated Over Lease Term (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [abstract]
Expense relating to short-term leases	$ 96	$ 56	$ 38
Total cash outflow for leases	$ 782	$ 667	$ 582

Share Capital/Treasury Shares - Summary of Share Capital (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020
Disclosure of classes of share capital [line items]
Value of shares authorized		44
Value of shares issued and fully paid	$ 41	$ 40
Exercise of share options, Value	$ 392	$ 141	$ 2,930
Ordinary Shares [Member]
Disclosure of classes of share capital [line items]
Number of shares authorised	444,343,488	444,343,488	444,343,488	444,343,488
Value of shares authorized	44		44
Number of shares issued and fully paid	401,804,327	393,252,140	386,741,005	360,791,045
Value of shares issued and fully paid	$ 41	$ 40	$ 39	$ 36
Exercise of share options, Shares	8,552,187	6,511,135	25,949,960
Par value per share	$ 0.0001	$ 0.0001	$ 0.0001
Exercise of share options, Value	$ 1	$ 1	$ 3

Finance Costs - Summary of Information about Finance Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Finance Cost [Abstract]
Interest expenses on lease liabilities	$ 93	$ 83	$ 72

Basis of Preparation of the Consolidated Financial Statements - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Basis of Preparation of Financial Statements Explanatory [Abstract]
Retained earnings	$ (474,600)	$ (235,435)
Liabilities	$ 448,120

Share Capital/Treasury Shares - Summary of Share Capital (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of classes of share capital [line items]
Proceeds from the exercise of stock options	$ 392	$ 141	$ 6,029
Two Thousand and Sixteen Plan [Member]
Disclosure of classes of share capital [line items]
Share based compensation by share based award weighted average exercise price of share options exercised	$ 0.046	$ 0.022	$ 0.232
Proceeds from the exercise of stock options			$ 3,099
Exercise Price One [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of classes of share capital [line items]
Stock issued during the period exercise of stock options shares	498,958	6,004,989	2,873,037
Share based compensation by share based award weighted average exercise price of share options exercised	$ 0.01	$ 0.01	$ 0.01
Exercise Price Two [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of classes of share capital [line items]
Stock issued during the period exercise of stock options shares	7,088,541	134,375	23,076,923
Share based compensation by share based award weighted average exercise price of share options exercised	$ 0.02	$ 0.02	$ 0.26
Stock issued during the period early exercise of stock options shares			11,918,299
Exercise Price Three [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of classes of share capital [line items]
Stock issued during the period exercise of stock options shares	101,146	371,771
Share based compensation by share based award weighted average exercise price of share options exercised	$ 0.21	$ 0.21
Exercise Price Four [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of classes of share capital [line items]
Stock issued during the period exercise of stock options shares	863,542
Share based compensation by share based award weighted average exercise price of share options exercised	$ 0.26

Deferred Taxation - Additional Inforation (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets and liabilities [abstract]
Unused tax losses for which no deferred tax asset recognised	$ 63,478	$ 33,135

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

$ 14,798

Charge for the year

$ 20

Impairment loss recognized

3,000

1,000

Ending Balance

14,778

14,798

Cost [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

18,875

11,375

Addition

7,500

Ending Balance

18,875

11,375

Depreciation [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

(4,077)

(1,057)

Charge for the year

(20)

Impairment loss recognized

(3,000)

Ending Balance

(4,097)

(4,077)

(1,057)

Patent Rights (available for use) [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[1]

298

Ending Balance

^[1]

278

298

Patent Rights (available for use) [Member] | Cost [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[1]

375

Addition

^[1]

Ending Balance

^[1]

375

Patent Rights (available for use) [Member] | Depreciation [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[1]

(77)

(57)

Charge for the year

^[1]

(20)

Impairment loss recognized

^[1]

Ending Balance

^[1]

(97)

(77)

(57)

Patent Rights (not yet available for use) [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[2]

14,500

Ending Balance

^[2]

14,500

Patent Rights (not yet available for use) [Member] | Cost [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[2]

18,500

11,000

Addition

^[2]

7,500

Ending Balance

^[2]

18,500

11,000

Patent Rights (not yet available for use) [Member] | Depreciation [Member]

Disclosure of detailed information about intangible assets [line items]

Beginning Balance

^[2]

(4,000)

(1,000)

Charge for the year

^[2]

Impairment loss recognized

^[2]

(3,000)

Ending Balance

^[2]

$ (4,000)

$ (1,000)

[1]

The patent rights grant the Group the right to use certain scientific data for research and manufacture of pipelines, namely APL-501, APL-502 and APL-509.

[2]

These patent rights are not yet available for use by the Group as the Group is still undergoing pre-clinical study application or clinical trials on the relevant drugs in designated territories under the patent rights and has yet to obtain regulatory approval for the new drug to be launched to the market. The patent rights are tested for impairment annually and whenever there is an indication that they may be impaired. Amortization will commence when the patent rights are available for use (i.e. when they are ready for commercialization and have obtained the regulatory new drug application approval in the designated territories) by the Group. During the years ended December 31, 2020, 2021 and 2022, patent rights with carrying amount of US$1,000, US$3,000 and nil were impaired, respectively. For these patent rights, as they were acquired for combination trial of an existing drug candidate, which was subsequently replaced by another formulation, or acquired for self-development that the Group cannot proceed further research due to the failure in providing drug supplies by the original vendor according to the agreement. Accordingly, the Group has fully impaired the patent rights with reference to their respective recoverable amounts determined on value in use calculations.

Restricted Net Assets - Additional information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
China [Member]
Disclosure In Entirety Of Restricted Assets [Line Items]
Restricted net assets	$ 52,298	$ 52,298

Retirement Benefits Plan

12 Months Ended

Dec. 31, 2022

Employee benefits [Abstract]

Retirement Benefits Plan

29.	RETIREMENT BENEFITS PLAN

The employees employed by the PRC subsidiary are members of the state-managed retirement benefits scheme operated by the PRC government. The PRC subsidiary is required to contribute a certain percentage of their payroll to the retirement benefits schemes to fund the benefits. The only obligation of the Group with respect to the retirement benefits schemes is to make the required contributions under the scheme.

The Group maintains multiple qualified contributory saving plans as allowed under Section 401(k) of the Internal Revenue Code in the US. These plans are defined contribution plans covering employees employed in the US and provide for voluntary contributions by employees, subject to certain limits. The contributions are made by both the employees and the employer. The employees’ contributions are primarily based on specified dollar amounts or percentages of employee compensation.

The total cost charged to profit or loss of US$

536

, US$

749

and US$

662

, respectively, represents contributions paid or payable to the above schemes by the Group for the years ended December 31, 2020, 2021 and 2022.

At the end of each reporting period, there were no forfeited contributions which arose upon employees leaving the schemes prior to their interests in the Group’s contribution becoming fully vested and which are available to reduce the contributions payable by the Group in future years.

Basis of Preparation of the Consolidated Financial Statements

12 Months Ended

Dec. 31, 2022

Disclosure of Basis of Preparation of Financial Statements Explanatory [Abstract]

Basis of Preparation of the Consolidated Financial Statements

2.	BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

The consolidated financial statements have been prepared based on the accounting policies set out in Note 4 which conform with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board (“IASB”).

The Group has incurred recurring losses and negative cash flows from operations since inception and had an accumulated losses of US$474,600 as of December 31, 2022. Group recorded net liabilities of US$448,120 as of December 31, 2022. The Group regularly monitors its current and expected liquidity requirements to ensure that it maintains sufficient cash balances to meet its liquidity requirements in the short and long term. The management of the Company have reviewed the Group’s cash outflow projections, existing cash and cash equivalents, time deposits and additional funds upon completion of the

De-SPAC

(defined in Note 11) and believed that the Group will have sufficient working capital to meet its financial liabilities and obligations as and when they fall due and to sustain its operations for the next twelve months from December 31, 2022.

Right-Of-Use Assets - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of quantitative information about right-of-use assets [abstract]
Lease liabilities	$ 991	$ 1,036
Right-of-use assets	$ 991	$ 1,036

Loss for the Year (Tables)

12 Months Ended

Dec. 31, 2022

Profit (loss) [abstract]

Summary of Detailed Information about Loss After Charging Expenses


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Loss for the year has been arrived at after charging:

Staff costs:
Salaries and other allowances		11,185		18,871		14,966
Retirement benefits scheme contributions		536		749		662
Share-based payment expenses		4,510		8,122		3,582

Total staff costs		16,231		27,742		19,210
Depreciation of plant and equipment		117		133		162
Depreciation of right-of-use assets		472		528		593
Amortization of intangible assets		20		20		20
Impairment loss of an intangible asset		1,000		3,000		—
Other expense (note)		3,307		4,522		6,608

Note:

Other expense represented the expenses incurred and the

expense-off

of the previous deferred issue costs for a public offering application pursuing in other capital market which was suspended in 2022. For the year ended December 31, 2022, the other expense also includes the expenses incurred for an ongoing public offering application through acquisition of a listed Special Purpose Acquisition Company

(“De-SPAC”)

in Nasdaq capital market, see Note 34(d).

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Disclosure of Summary of Significant Accounting Policies [Abstract]

Basis of consolidation

The consolidated financial statements incorporate the financial statements of Apollomics and entities controlled by Apollomics and its subsidiaries. Control is achieved when the Company:

•

has power over the investee;

•

is exposed, or has rights, to variable returns from its involvement with the investee; and

•

has the ability to use its power to affect its returns.

The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group’s accounting policies.

All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

Foreign currencies

Non-monetary

items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are recognized in profit or loss in the period in which they arise.

Government grants

Government grants are not recognized until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received.

Retirement benefits costs

Short-term employee benefits

A liability is recognized for benefits accruing to employees (such as wages, salaries and leave entitlement) after deducting any amount already paid.

Share-based payments

Equity-settled share-based payment transactions

Share options and restricted shares granted to employees and others providing similar services

Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date.

The fair value of the equity-settled share-based payments determined at the grant date without taking into consideration all

non-market

Taxation

Income taxation represents the sum of the tax currently payable and deferred tax.

For the purposes of measuring deferred tax for leasing transactions in which the Group recognizes the

right-of-use

assets and the related lease liabilities, the Group first determines whether the tax deductions are attributable to the

right-of-use

assets or the lease liabilities.

right-of-use

assets and lease liabilities are assessed on a net basis. Excess of depreciation on

right-of-use

assets over the lease payments for the principal portion of lease liabilities resulting in net deductible temporary differences.

Current and deferred tax are recognized in profit or loss.

Plant and equipment

Plant and equipment are stated at cost less subsequent accumulated depreciation and subsequent accumulated impairment losses, if any.

Leases

Definition of a lease

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group as a lessee

Allocation of consideration to components of a contract

For a contract that contains a lease component and one or more additional lease or

non-lease

components.

The Group applies practical expedient not to separate

non-lease

components from lease component, and instead account for the lease component and any associated

non-lease

components as a single lease component.

Short-term leases

Right-of-use

assets

Except for short-term leases, the Group recognizes

right-of-use

assets at the commencement date of the lease (i.e. the date the underlying asset is available for use).

Right-of-use

assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities.

The cost of

right-of-use

assets includes the amount of the initial measurement of the lease liability.

Right-of-use

right-of-use

assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term.

The Group presents

right-of-use

assets as a separate line item on the consolidated statements of financial position.

Refundable rental deposits

Refundable rental deposits paid are accounted for under IFRS 9

Financial Instruments

and initially measured at fair value. Adjustments to fair value at initial recognition are considered as additional lease payments and included in the cost of

right-of-use

assets.

Lease liabilities

The lease payments include fixed payments (including

in-substance

fixed payments) less any lease incentives receivable.

The Group presents lease liabilities as a separate line item on the consolidated statements of financial position.

Intangible assets

Intangible assets acquired separately

Internally-generated intangible assets - research and development expenditure

Expenditure on research activities is recognized as an expense in the period in which it is incurred.

•

the technical feasibility of completing the intangible asset so that it will be available for use or sale;

•

the intention to complete the intangible asset and use or sell it;

•

the ability to use or sell the intangible asset;

•

how the intangible asset will generate probable future economic benefits;

•

the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and

•

the ability to measure reliably the expenditure attributable to the intangible asset during its development.

Impairment on plant and equipment, right-of-use assets and intangible assets

Impairment on plant and equipment,

right-of-use

assets and intangible assets

At the end of each reporting period, the management of the Company reviews the carrying amounts of plant and equipment,

right-of-use

The recoverable amount of plant and equipment,

right-of-use

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a

pre-tax

pro-rata

had no

Cash and cash equivalents

Cash and cash equivalents presented on the consolidated statements of financial position include:

(a) cash, which comprises of cash on hand and demand deposits; and

For the purposes of the consolidated statements of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above.

Financial instruments

Financial assets

Classification and subsequent measurement of financial assets

Financial assets that meet the following conditions are subsequently measured at amortized cost:

•

the financial asset is held within a business model whose objective is to collect contractual cash flows; and

•

the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

All other financial assets are subsequently measured at FVTPL.

(i)

Amortized cost and interest income

Interest income is recognized in profit or loss and is included in the “other income” line item.

(ii)

Financial assets at FVTPL

Financial assets of the Group that do not meet the criteria for being measured at amortized cost are measured at FVTPL.

Impairment of financial assets

Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. In contrast,

12-month

For all financial instruments, the Group measures the loss allowance equal to

12-month

ECL, unless when there has been a significant increase in credit risk since initial recognition, the Group recognizes lifetime

ECL. The assessment of whether lifetime ECL should be recognized is based on significant increases in the likelihood or risk of a default occurring since initial recognition.

(i)

Significant increase in credit risk

In particular, the following information is taken into account when assessing whether credit risk has increased significantly:

•

an actual or expected significant deterioration in the financial instrument’s external (if available) or internal credit rating;

•

existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor’s ability to meet its debt obligations;

•

an actual or expected significant deterioration in the operating results of the debtor; and

•

(ii)

Definition of default

•

when there is a breach of financial covenants by the counterparty; or

•

(iii)

Credit-impaired financial assets

(a)

significant financial difficulty of the issuer or the borrower;

(b)

a breach of contract, such as a default or past due event;

(c)

(d)

it is becoming probable that the borrower will enter bankruptcy or other financial reorganization.

(iv)

Write-off

policy

write-off

constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss.

(v)

Measurement and recognition of ECL

The Group recognizes an impairment gain or loss in profit or loss for all financial instruments by adjusting their carrying amount.

Derecognition of financial assets

Financial liabilities and equity

Classification as debt or equity

Equity instruments

Treasury shares

Financial liabilities

All financial liabilities are subsequently measured at amortized cost using the effective interest method or at FVTPL.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when the financial liability is (i) contingent consideration of an acquirer in a business combination to which IFRS 3

Business Combinations

applies, (ii) held for trading or (iii) it is designated as at FVTPL.

A financial liability is held for trading if:

•

it has been acquired principally for the purpose of repurchasing it in the near term; or

•

on initial recognition it is part of a portfolio of identified financial instruments that the Group manages together and has a recent actual pattern of short-term profit-taking; or

•

it is a derivative, except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument.

A financial liability other than a financial liability held for trading or contingent consideration of an acquirer in a business combination may be designated as at FVTPL upon initial recognition if:

•

such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or

•

it forms part of a contract containing one or more embedded derivatives, and IFRS 9 permits the entire combined contract to be designated as at FVTPL.

Preferred shares

Preferred shares, which contain redemption features and other embedded derivatives, are designated as at financial liabilities at FVTPL.

Financial liabilities at amortized cost

Financial liabilities representing other payables and financial liabilities arising from unvested restricted shares are subsequently measured at amortized cost, using the effective interest method.

Derecognition of financial liabilities

Derivative financial instruments

Embedded derivatives

Derivatives embedded in

non-derivative

Share-Based Payment Transactions (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of Group's Restricted Shares Movement

The following table summarized the Group’s restricted shares movement during the years ended December 31, 2020, 2021 and 2022:


	2020			2021			2022
	Number of unvested restricted shares			Number of unvested restricted shares			Number of unvested restricted shares
Outstanding at January 1,		40,583,273			14,447,616			8,094,901
Vested		(26,135,657	)		(6,352,715	)		(1,164,666	)

Outstanding at December 31,		14,447,616			8,094,901			6,930,235

Summary of Company's Share Options

The following table discloses movements of the Company’s share options under the 2016 Plan held by grantees during the years ended December 31, 2020, 2021 and 2022:


	2020					2021					2022
	Number of Options			Weighted- average exercise price		Number of Options			Weighted- average exercise price		Number of Options			Weighted- average exercise price
				US$					US$					US$
Outstanding at January 1,		57,835,912			0.015		151,133,235			0.169		155,059,183			0.203
Granted		119,663,533			0.256		39,715,000			0.279		11,500,000			0.310
Exercised		(25,949,960	)		0.232		(6,511,135	)		0.022		(8,552,187	)		0.046
Forfeited		(416,250	)		0.061		(29,277,917	)		0.169		(22,027,291	)		0.232

Outstanding at December 31,		151,133,235			0.169		155,059,183			0.203		135,979,705			0.217

Exercisable at the end of the year		41,736,788					78,269,054					67,667,737

Summary of Share-Based Payment Transactions

The key inputs into the model were as follows:


	Years ended December 31,
	2020			2021			2022
Grant date option fair value per share	US$	0.0549-0.1430		US$	0.1430-0.1544		US$	0.0933-0.1517
Exercise price		US$0.21-0.26			US$0.26-0.31			US$0.31
Expected volatility (note)		70%-80	%		75%-80	%		75%-77.5	%
Expected life		6.078 years			6.078 years			6.078 years
Risk-free rate		0.36%-1.45	%		0.51%-1.09	%		1.35%-3.98	%
Expected dividend yield		0	%		0	%		0	%

Convertible Preferred Shares

12 Months Ended

Dec. 31, 2022

Convertible Preferred Shares [Abstract]

Convertible Preferred Shares

24.	CONVERTIBLE PREFERRED SHARES

The Company entered into preferred share subscription agreements with several independent investors and the details of issued preferred shares (the “Preferred Shares”) are set out as follows:


	Date of issue	Total number of Preferred Shares issue		Subscription price per share		Subscription price total
				US$		US$
Series A1 Preferred Shares	July 26, 2016 to July 28, 2016		88,038,389		0.04543		4,000
	January 31, 2019		44,019,194		0.04543		2,000

			132,057,583				6,000

Series A2 Preferred Shares	July 21, 2017 to
	July 25, 2017		73,371,157		0.05111		3,750

Series B Preferred Shares	September 19, 2018 to December 27, 2018		260,709,579		0.3329		86,800
	January 8, 2019 to March 25, 2019		36,643,370		0.3329		12,200

			297,352,949				99,000

Series C Preferred Shares	September 10, 2020 to September 30, 2020		141,692,465		0.4845		68,650
	October 5, 2020 to November 5, 2020		114,757,479		0.4845		55,600

			256,449,944				124,250

The key terms of the Preferred Shares are as follows:

(a)

Dividends rights

The Company cannot declare, pay or set aside any dividends on ordinary shares in any year unless the Preferred Shares holders shall first receive, or simultaneously receive, such dividends. Should any dividends be declared as determined by the Company, the Company will declare dividends at a rate of 8% per annum of the original issue price of Series A1 Preferred Shares, Series A2 Preferred Shares, Series B Preferred Shares and Series C Preferred Shares on each Series A1 Preferred Share, Series A2 Preferred Share, Series B Preferred Share and Series C Preferred Share, respectively.

Payments of any dividends to the holders of the Preferred Shares shall be on a pro rata,

pari passu

basis in proportion to the dividend rates for each series of the Preferred Shares. Such dividends shall be

non-cumulative.

After payment of such dividends, any additional dividends shall be distributed among the holders of the Preferred Shares and ordinary shares pro rata based on the number of ordinary shares or

as-if

converted basis then held by each holder.

No dividends have been declared by the Company up to the date of this report.

(b)

Conversion feature

Each holders of the Preferred Shares shall have the rights to convert the Preferred Shares into ordinary shares at any time after the issuance date into such number of fully paid and

non-assessable

ordinary shares as determined by dividing the relevant issue price by the then-effective conversion price. The “Conversion Price” shall initially be the Preferred Shares issue price, resulting in an initial conversion ratio of 1:1, and shall be subject to adjustment and readjustment (including but not limited to share splits and subdivision, additional ordinary shares issued and adjustment upon issuance of any other Preferred Shares for less than the Conversion Price). As of December 31, 2021 and 2022, the applicable conversion ratio was 1:1.

All outstanding Preferred Shares shall automatically be converted upon listing, at the applicable conversion ratio in effect at the time of conversion, without the payment of any additional consideration, into fully-paid and

non-assessable

ordinary shares upon the earlier of (i) the closing of a qualified initial public offering (“QIPO”), or (ii) the date specified by vote or written consent of the holders of at least a majority of the then outstanding Preferred Shares, voting together as a single class, at the Conversion Price in effect at such time.

QIPO means the closing of a firm commitment underwritten registered public offering by the Company of its ordinary shares on a nationally recognized securities exchange in the US, Hong Kong or the PRC or any other jurisdiction approved by the board of directors of the Company, that reflects a

pre-offering

valuation of the Company which is not less than a value as stated in the convertible Preferred Share subscription agreements.

(c)

Redemption feature

Series A Preferred Shares

Neither the holders of Series A Preferred Shares nor the Company shall have the unilateral right to call or redeem or cause to have called or redeemed any of the outstanding Series A Preferred Shares.

Series B Preferred Shares and Series C Preferred Shares

Upon the written request of any holders of Series B Preferred Shares and Series C Preferred Shares, the Company shall redeem the outstanding Series B Preferred Shares and Series C Preferred Shares (collectively as the “Redeeming Preferred Shares”) of such holder(s) of Series B Preferred Shares and Series C Preferred Shares (collectively as the “Redeeming Preferred Shareholders”), respectively, if the Company has not completed a QIPO by December 31, 2021 and such redemption has to be completed within eighteen (18) months after redemption notice is served. In August, September and December 2022, the Company received written requests from certain convertible preferred shareholders to redeem the preferred shares held by them in accordance with the contractual redemption terms.

The redemption feature shall be automatically terminated upon the submission of application of QIPO (“Listing Application”) and will be automatically restored to the fullest effect immediately upon (i) the

Company withdrawing its Listing Application, or (ii) the Listing Application failing to consummate within

18 months from closing date of Series C Preferred Shares (i.e. May 2022). As at 31 December 2022, the redemption feature was fully restored.

The redemption price shall be paid by the Company to each of the Redeeming Preferred Shareholders in an amount equal to the higher of the following:

(i)

the sum of (a) 100% of the original issue price of the Redeeming Preferred Shares; (b) annual interest calculated at a simple interest of 12% per annum on the original issue price of the Redeeming Preferred Shares for the period of time from the date on which the Redeeming Preferred Shares are first issued by the Company until the date of full payment of the redemption price for the Redeeming Preferred Shares; and (c) all accrued or declared but unpaid dividends on the Redeeming Preferred Shares as calculated on day of receipt by the Company of the redemption notice given by the Redeeming Preferred Shareholders; and

(ii)

a fraction, the numerator of which is the latest amount of the audited net assets of the Company prior to the day of full payment of redemption price, and the denominator of which is the total number of ordinary shares of the Company (on an as converted and fully diluted basis) on the day of receipt by the Company of the redemption notice given by the Redeeming Preferred Shareholders.

As at 31 December 2022, the Group classified the Preferred Shares as non-current liabilities on the basis that the Group has the unconditional right to defer settlement for at least twelve months from the reporting date.

Subsequent to the end of the reporting period, with the completion of De-SPAC as disclosed in Note 34(d), all the Series A, B, C Preferred Shares had been converted into ordinary shares of the Company on March 29, 2023, those previously received redemption notices were not valid anymore.

(d)

Liquidation preferences

Series A Preferred Shares

If there are any assets or funds remaining after the aggregate Series B Preference Amount (as defined below under “Series B Preferred Shares”) and Series C Preference Amount (as defined below under “Series C Preferred Shares”) have been distributed or paid in full to the holders of Series B Preferred Shares and Series C Preferred Shares, the holders of the Series A Preferred Shares shall receive 100% of the Series A Preferred Shares original issue price plus all accrued or declared but unpaid dividends. If upon the occurrence of a Liquidation Event, there is insufficient fund to pay the aforesaid amount to the holders of the Series A Preferred Shares, then the entire assets and funds of the Company legally available for distribution to all members of the Company shall be distributed ratably among the holders of Series A Preferred Shares, on a

pari passu

basis with each other, in proportion to the aggregate amount to be paid to each such Series A Preferred Shares holder is otherwise entitled to receive.

Series B Preferred Shares

If there are any assets or funds remaining after the aggregate Series C Preference Amount has been distributed or paid in full to the holders of Series C Preferred Shares, the Series B Preferred Shares holders

shall be paid out of the remaining legally available funds for distribution and in preference to any distribution of any of the assets or funds of the Company to the holders of the Series A Preferred Shares and the holders of ordinary shares an amount

equal to

100

% of the Series B Preferred Shares original issue price plus a simple interest at the rate of

% per annum plus all accrued or declared but unpaid dividends (the “Series B Preference Amount”). If upon the occurrence of a Liquidation Event, there is insufficient fund to pay the Series B Preference Amount, then the entire assets and funds of the Company legally available for distribution to all members of the Company shall be distributed ratably among the holders of the Series B Preferred Shares, on a

pari passu

basis with each other, in proportion to the aggregate Series B Preference Amount to be paid to each such Series B Preferred Shares holder is otherwise entitled to receive.

Series C Preferred Shares

In the event of a Liquidation Event of the Company, the holders of Series C Preferred Shares shall be entitled to receive,

pari passu

with each other, in preference and prior to any distribution of any of the assets of the Company to the holders of ordinary shares or members of any other class or series of shares by reason of their status as such holder or member, an amount equal to 100% of the Series C Preferred Shares original issue price plus a simple interest at the rate of 12% per annum plus all accrued or declared but unpaid dividends (the “Series C Preference Amount”). If upon the occurrence of a Liquidation Event, the assets and funds thus distributed among the holders of the Series C Preferred Shares shall be insufficient to permit the payment of the aggregate Series C Preference Amount, then the entire assets and funds of the Company legally available for distribution to all holders of Series C Preferred Shares shall be distributed ratably among the holders of the Series C Preferred Shares,

pari passu

with each other, in proportion to the aggregate Series C Preference Amount to be paid to each such holder is otherwise entitled to receive.

Liquidation Event means any liquidation, dissolution, winding up, merger, acquisition, consolidation, issuance or transfer of equity securities or other transaction or series of transactions which causes the then members of the Company to lose controlling or majority voting rights in the Company or the surviving person (if not the Company), or any transaction or series of transactions in which all or substantially all assets including intellectual property of the Company are disposed via sale, lease or other arrangement, or the grant of an exclusive license to all or substantially all of the Company’s intellectual property (other than to one or more wholly-owned subsidiaries of the Company).

(e)

Voting rights

Holders of the Preferred Shares are entitled to the number of votes equal to the number of ordinary shares into which the Preferred Shares are convertible. Except as otherwise required by law, the holders of ordinary shares, as such, shall not be entitled to vote on any amendment to the articles of the Company that relates solely to the rights, preferences, privileges and restrictions of the Preferred Shares, if the holders of the Preferred Shares, as applicable, are entitled to vote thereon as a separate class pursuant to the articles of the Company or pursuant to applicable law.

Presentation and Classification

The Company elected to designate the Preferred Shares as financial liabilities at FVTPL as a whole. The fair value change of the Preferred Shares is charged/credited to fair value change of Preferred Shares in profit or

loss except for the portion attributable to credit risk change which shall be charged/credited to other comprehensive income, if any. The fair value change recognized in profit or loss includes any interest paid, if any, on the financial liabilities. The management of the Company considered that there is insignificant credit risk change on the financial liabilities that drives the fair value change of the Preferred Shares during the years ended December 31, 2020, 2021 and 2022.

The movement of the Preferred Shares at the end of each reporting period is as follows:


	Preferred Shares
	US$
As of January 1, 2020		133,969
Issue of Series C Preferred Shares		124,250
Change in fair value		26,572

As of December 31, 2020		284,791
Change in fair value		37,424

As of December 31, 2021		322,215
Change in fair value		189,646

As of December 31, 2022		511,861

The Preferred Shares were valued by the management of the Company with reference to valuations carried out by an independent qualified professional valuer not connected with the Group, which has appropriate qualifications and experiences in valuation of similar instruments.

The Company used the black-scholes model to determine the underlying share value of the Company and performed an equity allocation based on option pricing model (the “OPM” model) to arrive the fair value of the Preferred Shares at the end of each reporting period.

In addition to the underlying share value of the Company determined by black-scholes model, other key valuation assumptions used in OPM model to determine the fair value of the Preferred Shares are as follows:


	As of December 31,
	2020			2021			2022
Time to liquidation		1.5 years			1.5 years			1.25 years
Risk-free rate		0.12	%		0.56	%		4.65	%
Expected volatility (note)		80	%		72.5	%		75	%
Dividend yield		0	%		0	%		0	%
Possibility under IPO scenario		45	%		25	%		85	%
Possibility under liquidation scenario		55	%		75	%		15	%

Note:

The expected volatility measured at the standard deviation is based on the historical data of the daily share price movement of comparable companies.

Lease Liabilities - Additional Information (Detail)	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Lease Liabilities [Line Items]
Weighted average lessee's incremental borrowing rate	5.38%	5.42%
Top of Range [Member]
Disclosure of Lease Liabilities [Line Items]
Weighted average lessee's incremental borrowing rate	6.00%	6.00%
Bottom of Range [Member]
Disclosure of Lease Liabilities [Line Items]
Weighted average lessee's incremental borrowing rate	4.75%	4.75%

Financial Instruments - Summary of Credit Risk Exposure (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of credit risk exposure [line items]
Financial assets at amortised cost	$ 39,983	$ 78,702
12-month ECL [Member] \| Low Risk [Member] \| Deposits [Member]
Disclosure of credit risk exposure [line items]
Financial assets at amortised cost	129	120
12-month ECL [Member] \| A3 [Member] \| Time deposits with original maturity over three months [Member]
Disclosure of credit risk exposure [line items]
Financial assets at amortised cost	7,179	31,842
12-month ECL [Member] \| A3 to Aa2 [Member] \| Cash and cash equivalents [Member]
Disclosure of credit risk exposure [line items]
Financial assets at amortised cost	$ 32,675	$ 46,740

Share-Based Payment Transactions

12 Months Ended

Dec. 31, 2022

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Share-Based Payment Transactions

26.	SHARE-BASED PAYMENT TRANSACTIONS

On July 19, 2016, the shareholders of the Company approved the adoption of the 2016 equity incentive plans (the “2016 Plan”) for the purpose to secure and retain employees, directors and consultants of the Company (the “Eligible Persons”), provide incentives for them to exert maximum efforts for the success of the Company and any affiliate and provide means by which the Eligible Persons may benefit from increases in value of the ordinary shares of the Company.

The 2016 Plan provides for the grant of the following types of share awards: (i) restricted share awards, (ii) share options, (iii) share appreciation rights, (iv) restricted share unit awards, and (v) other share awards. The overall limit on the number of underlying shares which may be delivered pursuant to all awards granted under the 2016 Plan is 337,225,866 and 337,225,866 ordinary shares of the Company as of December 31, 2021 and 2022, respectively, subject to any adjustments for other dilutive issuances.

During the years ended December 31, 2020, 2021 and 2022, no share appreciation rights, restricted share unit awards or other share awards were granted under the 2016 Plan by the Company.

Restricted share awards

All the restricted shares shall be subject to repurchase at the option by the Company at the subscription price paid by Eligible Persons upon voluntary or involuntary termination of his employment with the Company (the “Repurchase Option”).

The Repurchase Option shall be exercised by the Company and/or the designees of the Company as to the number of unreleased shares, within sixty days after the termination of his employment with the Company giving written notice to Eligible Persons.

The aforesaid arrangement has been accounted for as share-based payment transactions. Accordingly, the Group measured the fair value of the unvested restricted shares as of the grant date and is recognizing the amount as compensation expense over the vesting period for each separately vesting portion of the unvested restricted shares.

The subscription price received by the Group in relation to the unvested restricted shares that are subject to the Repurchase Option held by the Company have been recognized as financial liabilities arising from unvested restricted shares as disclosed in Note 22.

The total expense recognized in the consolidated statements of profit or loss and other comprehensive income for the restricted shares granted are approximately US$89, US$7 and US$39, for the years ended December 31, 2020, 2021 and 2022, respectively.

The following table summarized the Group’s restricted shares movement during the years ended December 31, 2020, 2021 and 2022:


	2020			2021			2022
	Number of unvested restricted shares			Number of unvested restricted shares			Number of unvested restricted shares
Outstanding at January 1,		40,583,273			14,447,616			8,094,901
Vested		(26,135,657	)		(6,352,715	)		(1,164,666	)

Outstanding at December 31,		14,447,616			8,094,901			6,930,235

The range of subscription price for the restricted shares is US$

0.003

to US$

0.01

per share. The time-based restricted shares shall be entirely vested ratably on a monthly basis over

48-months

vesting period or with

% be vested on the first anniversary of the vesting inception date and remaining portion vested ratably on a monthly basis over

36-months

vesting period. The milestone-based restricted shares will be vested upon achievement of specified performance conditions. The expected vesting period is estimated by the management of the Company based on the most likely outcome of each of the performance condition. During the year ended December 31, 2020, 2021 and 2022,

6,930,235

nil

and

nil

milestone-based restricted shares have been vested, respectively.

Share options

The following table discloses movements of the Company’s share options under the 2016 Plan held by grantees during the years ended December 31, 2020, 2021 and 2022:


	2020					2021					2022
	Number of Options			Weighted- average exercise price		Number of Options			Weighted- average exercise price		Number of Options			Weighted- average exercise price
				US$					US$					US$
Outstanding at January 1,		57,835,912			0.015		151,133,235			0.169		155,059,183			0.203
Granted		119,663,533			0.256		39,715,000			0.279		11,500,000			0.310
Exercised		(25,949,960	)		0.232		(6,511,135	)		0.022		(8,552,187	)		0.046
Forfeited		(416,250	)		0.061		(29,277,917	)		0.169		(22,027,291	)		0.232

Outstanding at December 31,		151,133,235			0.169		155,059,183			0.203		135,979,705			0.217

Exercisable at the end of the year		41,736,788					78,269,054					67,667,737

No share options granted in the above table under the 2016 Plan will be exercisable after the expiration of 10 years from the date of its grant.

The share options outstanding as of December 31, 2020, 2021 and 2022 had a weighted average remaining contractual life of 8.9

years,

8.2

years and

7.4

years, respectively. During the year ended December

2020

2021

and

2022

, the weighted average fair value of the share options granted is US$

0.1171

per share, US$

0.1471

per share and US$

0.1403

per share, respectively.

The time-based share options will be vested ratably on a monthly basis over range of

24-months

48-months

vesting period or with 25% or 50% be vested on the first anniversary of the vesting inception date and remaining portion vested ratably on a monthly basis over range of

12-months

36-months

vesting period. The milestone-based share options will be vested upon achievement of specified performance conditions. The expected vesting period is estimated by the management of the Company based on the most likely outcome of each of the performance condition. During the year ended December 31, 2020,

11,918,299

time-based share options have been early exercised by Dr. Yu and subject to the Repurchase Option, and the remaining unvested early exercised share options as of December 31, 2021 and 2022 are 5,991,847 and nil, respectively.

OPM model was used to determine the fair value of the option granted.

The key inputs into the model were as follows:


	Years ended December 31,
	2020			2021			2022
Grant date option fair value per share	US$	0.0549-0.1430		US$	0.1430-0.1544		US$	0.0933-0.1517
Exercise price		US$0.21-0.26			US$0.26-0.31			US$0.31
Expected volatility (note)		70%-80	%		75%-80	%		75%-77.5	%
Expected life		6.078 years			6.078 years			6.078 years
Risk-free rate		0.36%-1.45	%		0.51%-1.09	%		1.35%-3.98	%
Expected dividend yield		0	%		0	%		0	%

Note:

The expected volatility measured at the standard deviation is based on the historical data of the daily share price movement of comparable companies.

The total expense recognized in the consolidated statements of profit or loss and other comprehensive income for share options granted under the 2016 Plan are approximately US$4,421, US$8,115 and US$3,543, which included consultancy fees of approximately US$18, US$129 and US$27 for the years ended December 31, 2020, 2021 and 2022, respectively.

Financial Instruments - Summary of Financial Assets and Financial Liabilities are Measured at Fair Value (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Detailed Information About Financial Assets and Financial Liabilities that are Measured at Fair Value on a Recurring Basis [Line Items]
Financial Assets	$ 76,475	$ 123,437
Financial Liabilities	448,120
Market fund [Member] \| Level 2 of Fair Value Hierarchy [Member]
Disclosure of Detailed Information About Financial Assets and Financial Liabilities that are Measured at Fair Value on a Recurring Basis [Line Items]
Financial Assets	$ 19,067	23,744
Description of valuation techniques used in fair value measurement, assets	Redemption value quoted by banks with reference to the expected return of the underlying assets
Convertible Preferred Shares [Member] \| Level 2 of Fair Value Hierarchy [Member]
Disclosure of Detailed Information About Financial Assets and Financial Liabilities that are Measured at Fair Value on a Recurring Basis [Line Items]
Financial Liabilities	$ 511,861	$ 322,215
Description of valuation techniques used in fair value measurement, liabilities	Black-scholes model and OPM method — the key inputs are: time to liquidation, risk- free rate, expected volatility and possibilities for IPO/liquidation scenario
Description of inputs used in fair value measurement, liabilities	Possibility for IPO scenario (note)
Description of sensitivity of fair value measurement to changes in unobservable inputs, liabilities	The higher the possibility for IPO scenario, the higher the fair value, and vice versa

Plant and Equipment - Summary of Depreciation Rates of Property Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2022
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	20.00%
Furniture and Other Equipment [Member] \| Bottom of Range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	14.00%
Furniture and Other Equipment [Member] \| Top of Range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	33.00%

General Information

12 Months Ended

Dec. 31, 2022

General Information [Abstract]

General Information

1.	GENERAL INFORMATION

Apollomics Inc. (previously CB Therapeutics Inc., “Apollomics” or the “Company”) was incorporated in the Cayman Islands as an exempted company with limited liability on May 21, 2015 under the Companies Law of the Cayman Islands. Apollomics is an investment holding company, through its subsidiaries (collectively referred to as the “Group”), engaging in research and development of biologics of oncology. The Company’s principal place of business is in mainland China and the United States.

The consolidated financial statements are presented in U.S. dollars (“US$”) and subsidiaries included in the consolidated financial statements as below:


Name of subsidiaries	Place of incorporation or establishment/operation and date of incorporation/establishment	Principal activities
Apollomics, Inc.	California, United States January 14, 2016	Research and development of drugs
Apollomics (Australia) Pty. Ltd.	Melbourne, Australia November 4, 2016	Research and development of drugs
Apollomics (Hong Kong) Limited	Hong Kong, China June 24,2019	Investment holding
Zhejiang Crownmab Biotech Co., Ltd.	Hangzhou, China May 29, 2018	Investment holding and research and development of drugs
Zhejiang Crown Bochuang Biopharma Co., Ltd.	Hangzhou, China May 29, 2020	Research and development of drugs
Project Max SPAC Merger Sub, Inc.	Delaware, United States August 19, 2022	Investment holding

Other Income

12 Months Ended

Dec. 31, 2022

Disclosure of Other Income [Abstract]

Other Income

7.	OTHER INCOME


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Interest income (note i)		330		467		431
Government grants (note ii)		1,730		587		1,016

		2,060		1,054		1,447

Notes:

(i)

Included in interest income of US$2 for the year ended December 31, 2020 is arising from loan to a director as disclosed in Note 30.

(ii)

Included in the government grants are amounts in thousands of Australian Dollar (“AUD”) 1,942 (equivalent to approximately US$1,407), nil and AUD 1,353 (equivalent to approximately US$908), representing the subsidies from the Australian government specifically for supporting the research and development activities carried out in Australia for the years ended December 31, 2020, 2021 and 2022 respectively. The remaining amounts represent government subsidies in relation to the research and development activities in the US and the PRC. All the government grants provide immediate financial support with no future related costs nor related to any assets.

Lease Liabilities

12 Months Ended

Dec. 31, 2022

Lease liabilities [abstract]

Lease Liabilities

23.	LEASE LIABILITIES


	As of December 31,
	2021			2022
	US$			US$
Lease liabilities payable:
Within one year		508			614
More than one year, but not exceeding two years		476			126
More than two years, but not exceeding five years		52			251

		1,036			991
Less: Amount due for settlement within 12 months shown under current liabilities		(508	)		(614	)

Amount due for settlement after 12 months shown under non-current liabilities		528			377

The Group leased various offices, and plant and equipment as disclosed in Note 15 for its administration, and research and development activities. These lease liabilities were measured at the present value of the lease payments that are not yet paid.

The Group does not face a significant liquidity risk with regard to its lease liabilities.

The lease agreements did not contain any contingent rent nor any purchase option for the leases.

The weighted average incremental borrowing rates applied to lease liabilities range from 4.75% to 6.00% during the years ended December 31, 2021 and 2022.

Convertible Preferred Shares - Additional Information (Detail) $ in Thousands	4 Months Ended	12 Months Ended
	Apr. 17, 2023 USD ($)	Dec. 31, 2022	Dec. 31, 2021
Series A One Preferred Stock [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Dividend rate on preferred stock		8.00%
Dividend declared before the financial statements are authorized for issue but not recognized as distribution to owners	$ 0
Conversion ratio of preferred shares into equity		1	1
Series A Two Preferred Stock [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Dividend rate on preferred stock		8.00%
Dividend declared before the financial statements are authorized for issue but not recognized as distribution to owners	0
Conversion ratio of preferred shares into equity		1	1
Series B Preferred Shares [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Dividend rate on preferred stock		8.00%
Dividend declared before the financial statements are authorized for issue but not recognized as distribution to owners	0
Conversion ratio of preferred shares into equity		1	1
Period within which the redemption feauture shall be restored from the date on which the issue is closed		18 months
Convertible preferred stock redemption price as a percentage of original issue price		100.00%
Interest rate on payable on redeemable amount of convertible preferred stock		12.00%
Convertible preferred stock liquidation preference percentage		100.00%
Interest rate payable on redeemable preferred stock		12.00%
Series C Preferred Shares [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Dividend rate on preferred stock		8.00%
Dividend declared before the financial statements are authorized for issue but not recognized as distribution to owners	$ 0
Conversion ratio of preferred shares into equity		1	1
Period within which the redemption feauture shall be restored from the date on which the issue is closed		18 months
Convertible preferred stock redemption price as a percentage of original issue price		100.00%
Interest rate on payable on redeemable amount of convertible preferred stock		12.00%
Convertible preferred stock liquidation preference percentage		100.00%
Interest rate payable on redeemable preferred stock		12.00%
Series A1 And Series A Two Preferred Stock [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Convertible preferred stock liquidation preference percentage		100.00%

Deposits, Prepayments and Deferred Expenses - Disclosure of Detailed Information about Deposits Prepayments and Deferred Expenses Explanatory (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Deposits Prepayments and Deferred Expenses [Abstract]
Other prepayments	$ 624	$ 1,554
Deferred share issue costs		2,255
Prepayments for other expense		443
Value-Added Tax recoverable	547	449
Deposits	5	120
Payment in advance to suppliers		6
Deposits, prepayments and deferred expenses	$ 1,176	$ 4,827

Share-Based Payment Transaction - Summary of Share-Based Payment Transactions (Detail)	12 Months Ended
	Dec. 31, 2022 yr $ / shares	Dec. 31, 2021 yr $ / shares	Dec. 31, 2020 yr $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life \| yr	6.078	6.078	6.078
Two Thousand and Sixteen Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of share options granted	$ 0.31
Expected dividend yield	0.00%	0.00%	0.00%
Bottom of Range [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date option fair value per share	$ 0.0933	$ 0.143	$ 0.0549
Exercise price of share options granted		$ 0.26	$ 0.21
Expected volatility (note)	75.00%	75.00%	70.00%
Risk-free rate	1.35%	0.51%	0.36%
Top of Range [Member] \| Two Thousand and Sixteen Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date option fair value per share	$ 0.1517	$ 0.1544	$ 0.143
Exercise price of share options granted		$ 0.31	$ 0.26
Expected volatility (note)	77.50%	80.00%	80.00%
Risk-free rate	3.98%	1.09%	1.45%

Other Income - Additional Information (Detail)	12 Months Ended
Other Income - Additional Information (Detail)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 AUD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 AUD ($)
Australia [Member]
Disclosure of Detailed Information about Other Income [Line Items]
Income from government grants related to research and development activity	$ 908	$ 1,353	$ 0	$ 1,407	$ 1,942
Director [Member]
Disclosure of Detailed Information about Other Income [Line Items]
Interest income on loans and receivables				$ 2

Other Gains and Losses (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Other Gains and Losses [Abstract]

Summary of Information about Other Gains and Losses


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Exchange gains (losses), net		144		36		(829	)

Share-Based Payment Transactions - Summary of Group's Restricted Shares Movement (Detail) - Two Thousand and Sixteen Plan [Member] - Unvested Restricted Shares [Member] - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Movement In Restricted Shares [Line Items]
Outstanding at January 1	8,094,901	14,447,616	40,583,273
Vested	(1,164,666)	(6,352,715)	(26,135,657)
Outstanding at December 31,	6,930,235	8,094,901	14,447,616

Loss for the Year - Summary of Detailed Information about Loss After Charging Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Staff costs:
Salaries and other allowances	$ 14,966	$ 18,871	$ 11,185
Retirement benefits scheme contributions	662	749	536
Share-based payment expenses	3,582	8,122	4,510
Total staff costs	19,210	27,742	16,231
Depreciation of plant and equipment	162	133	117
Depreciation of right-of-use assets	593	528	472
Amortization of intangible assets	20	20	20
Impairment loss of an intangible asset	0	3,000	1,000
Other expense	$ 6,608	$ 4,522	$ 3,307

Other Payables and Accruals (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Payables And Accruals [Abstract]

Summary of Other Payables And Accruals


	As of December 31,
	2021		2022
	US$		US$
Payables in respect of research and development expenses		4,248		5,435
Accrued salaries and bonuses		2,485		2,475
Accrued other expenses		2,265		1,662
Accrued share issue costs		644		—
Deposit received for a potential out-licensing drug patent (note)		1,000		1,000
Others		759		1,103

		11,401		11,675

Note:

During the year ended December 31, 2020, the Group signed an exclusive right of negotiation agreement with an independent third party (the “Independent Third Party”) to negotiate

out-licensing

a drug patent to the Independent Third Party. Under the exclusive right of negotiation agreement, the Group had received a deposit of US$1,000 which may be considered as consideration for the exclusive right of negotiation if the Independent Third Party has not identified any negative findings (as stated in the exclusive right of negotiation agreement) by March 2, 2021. Up to the date when these consolidated financial statements are authorised for issue, despite no negative findings have been identified, the management of the Group considered the negotiation will not proceed further as it is found that a strategic investor invested into and licensed several drug patents (with similar feature of the Group’s drug patent) to the Independent Third Party. Up to the date these consolidated financial statements are authorized for issue, the Independent Third Party did not request the refund of the balance.

Other Payables and Accruals - Summary of Other Payables and Accruals (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Payables And Accruals [Abstract]
Payables in respect of research and development expenses	$ 5,435	$ 4,248
Accrued salaries and bonuses	2,475	2,485
Accrued other expenses	1,662	2,265
Accrued share issue costs	0	644
Deposit received for a potential out-licensing drug patent (note)	1,000	1,000
Others	1,103	759
Total	$ 11,675	$ 11,401

Income Tax (Credit) Expense

12 Months Ended

Dec. 31, 2022

Disclosure of Income Tax [Abstract]

Income Tax (Credit) Expense

10.	INCOME TAX (CREDIT) EXPENSE

The Company is exempted from taxation under the laws of the Cayman Islands.

The US Corporate Income Tax (“CIT”) includes (a) federal income tax calculated at a flat rate of 21% on the US federal taxable income in accordance to the Tax Cuts and Jobs Act of 2017; (b) state income tax calculated at a fixed rate of 8.84% on the state taxable income for California, US. The income subject to tax in California is calculated based on the federal taxable income with state tax adjustments, which is then allocated or apportioned to the respective state (i.e. percentage of taxable income that should be apportioned or specially allocated to the respective states in which the Group operates) based on the apportionment factors provided from the state tax returns in previous year, and (c) state minimum tax if there is no assessable profit.

The

Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March

2020

in the US. Under the CARES Act, the companies incorporated in the US can carry back net operating loss incurred (if any), in the calendar years ended December

2018

2019

and

2020

to previous five financial years that has taxable profit for tax refund. As such, the subsidiary of the Company in the US is eligible to carry back approximately US$

976

net operating loss incurred in the year ended December

2020

which give rise to approximately US$

205

tax credit and such tax credit has been credited to the profit or loss and recognized as tax recoverable on the consolidated statement of financial position as at December

2020

such tax credit has been credited to the profit and loss during the years ended December

2021

and

2022

The PRC enterprises income tax (“EIT”) is calculated at the prevailing tax rate on the taxable income of the subsidiaries operating in the PRC. Under the Law of the PRC on EIT (the “EIT Law”) and Implementation Regulation of the EIT Law, the applicable tax rate of the PRC subsidiaries is at 25% during the years ended December 31, 2020, 2021 and 2022.

Under the Treasury Law Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2018 of Australia, qualifying base rate entities that meet aggregate turnover threshold can be eligible for a lower corporate tax rate. Upon assessment on the base rate entity qualification on an ongoing basis, Apollomics (Australia) Pty. Ltd., a wholly-owned subsidiary of the Company, applies to a corporate tax rate of

30%, 26% and 25% for the years ended December 31, 2020, 2021 and 2022, respectively.

Hong Kong Profits Tax is calculated at

16.5

% of the estimated assessable profit for a Hong Kong incorporated subsidiary.


	Years ended December 31,
	2020			2021		2022
	US$			US$		US$
US CIT
— current year		(205	)		1		1
— over-provision in respect of prior years		(58	)		—		—
Deferred tax (Note 17)		178			—		—

		(85	)		1		1

Other than the subsidiary operating in the US,

provision for income taxation has been made as the Company and the other subsidiaries either had

assessable profit or incurred tax losses in the PRC, Australia and Hong Kong for the years ended December

2020

2021

and

2022

The income tax (credit) expense for the years ended December 31, 2020, 2021 and 2022 can be reconciled to the loss before taxation per the consolidated statements of profit or loss and other comprehensive income as follows:


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
Loss before taxation		(74,905	)		(94,796	)		(240,810	)

Tax at the US federal tax rate of 21%		(15,730	)		(19,907	)		(50,570	)
Tax effect of expenses not deductible for tax purpose		10,258			20,419			45,739
Tax effect of income not taxable for tax purpose		(386	)		(309	)		(257	)
Tax effect of additional qualified expenses deductible for tax purpose (note)		—			—			(1,517	)
Over-provision in respect of prior years		(58	)		—			—
Tax effect of tax losses not recognized		6,461			360			7,027
Tax effect of CARES Act		(205	)		—			—
Tax effect of foreign tax differential rates		(425	)		(562	)		(421	)

Income tax (credit) expense for the year		(85	)		1			1

Note: The amount represents additional

% income tax deduction in

respect

of qualifying research and development expenditures incurred for the year.

Deferred Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]

Disclosure of Detailed Information about Unrecognized Tax Losses Explanatory

The major deferred tax assets (liabilities) recognized and

vements thereon during the years ended December 31, 2020, 2021 and 2022 are as follows:


	Accelerated tax depreciation			Accrual			Total
	US$			US$			US$
As of January 1, 2020		(55	)		233			178
Credit (charge) to profit or loss (Note 10)		9			(187	)		(178	)

As of December 31, 2020		(46	)		46			—
Credit (charge) to profit or loss (Note 10)		14			(14	)		—

As of December 31, 2021		(32	)		32			—
(Charge) credit to profit or loss (Note 10)		(19	)		19			—

As of December 31, 2022		(51	)		51			—

Summary of Unrecognized Tax Losses will be Carried Forward and Expire in Years


	As of December 31,
	2021		2022
	US$		US$
2023		612		612
2024		2,364		2,364
2025		4,634		4,634
2026		7,025		7,025
2027		—		15,757
Indefinite		18,500		33,086

		33,135		63,478

Deferred Taxation

12 Months Ended

Dec. 31, 2022

Deferred tax assets and liabilities [abstract]

Deferred Taxation

17.	DEFERRED TAXATION

For the purpose of presentation in the consolidated financial statements, the deferred tax assets and liabilities have been offset.

The major deferred tax assets (liabilities) recognized and

vements thereon during the years ended December 31, 2020, 2021 and 2022 are as follows:


	Accelerated tax depreciation			Accrual			Total
	US$			US$			US$
As of January 1, 2020		(55	)		233			178
Credit (charge) to profit or loss (Note 10)		9			(187	)		(178	)

As of December 31, 2020		(46	)		46			—
Credit (charge) to profit or loss (Note 10)		14			(14	)		—

As of December 31, 2021		(32	)		32			—
(Charge) credit to profit or loss (Note 10)		(19	)		19			—

As of December 31, 2022		(51	)		51			—

The Group had unused tax losses of US$

33,135

and US$

63,478

available for offset against future profits as of December 31, 2021 and 2022, respectively. No deferred tax asset has been recognized due to the unpredictability of future profit streams. As of December 31, 2021 and 2022, the unrecognized tax losses will be carried forward and expire in years as follows:


	As of December 31,
	2021		2022
	US$		US$
2023		612		612
2024		2,364		2,364
2025		4,634		4,634
2026		7,025		7,025
2027		—		15,757
Indefinite		18,500		33,086

		33,135		63,478

There was no other significant unprovided deferred taxation for the years ended

December

31,2020, 2021 and 2022 or at the end of each reporting period.

Reconciliation of Liabilities Arising from Financing Activities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of reconciliation of liabilities arising from financing activities [abstract]

Summary of Detailed Information about Reconciliation of Liabilities Arising from Financing Activities

The table below details changes in the Group’s liabilities arising from financing activities, including both cash and

non-cash

changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statements of cash flows as cash flows from financing

activities.


	Convertible Preferred Shares		Lease liabilities			Accrued issuance costs in respect of convertible Preferred Shares (under other payables)			Accrued share issue costs (under other payables)			Total
	US$		US$			US$			US$			US$
As of January 1, 2020		133,969		1,674			—			—			135,643
Financing cash flows		124,250		(544	)		(3,782	)		(439	)		119,485
Non-cash changes:
Fair value change		26,572		—			—			—			26,572
New leases entered		—		309			—			—			309
Issue costs in respect of convertible Series C Preferred Shares accrued		—		—			3,782			—			3,782
Issue costs accrued		—		—			—			950			950
Interest expense		—		72			—			—			72

As of December 31, 2020		284,791		1,511			—			511			286,813
Financing cash flows		—		(611	)		—			(1,173	)		(1,784	)
Non-cash changes:
Fair value change		37,424		—			—			—			37,424
New leases entered		—		53			—			—			53
Issue costs accrued		—		—			—			1,306			1,306
Interest expense		—		83			—			—			83

As of December 31, 2021		322,215		1,036			—			644			323,895
Financing cash flows		—		(686	)		—			—			(686	)
Non-cash changes:
Fair value change		189,646		—			—			—			189,646
New leases entered		—		548			—			—			548
Reversal on accrued share issue costs		—		—			—			(644	)		(644	)
Interest expense		—		93			—			—			93

As of December 31, 2022		511,861		991			—			—			512,852

Convertible Preferred Shares - Disclosure of Preferred Shares Issued Pursuant to Subscription Agreement (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Series A One Preferred Stock [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	132,057,583
Subscription price total \| $	$ 6,000
Series A One Preferred Stock [Member] \| July 26, 2016 to July 28, 2016 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	88,038,389
Subscription price per share \| $ / shares	$ 0.04543
Subscription price total \| $	$ 4,000
Series A One Preferred Stock [Member] \| January 31, 2019 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	44,019,194
Subscription price per share \| $ / shares	$ 0.04543
Subscription price total \| $	$ 2,000
Series A Two Preferred Stock [Member] \| July 21, 2017 to July 25, 2017 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	73,371,157
Subscription price per share \| $ / shares	$ 0.05111
Subscription price total \| $	$ 3,750
Series B Preferred Shares [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	297,352,949
Subscription price total \| $	$ 99,000
Series B Preferred Shares [Member] \| September 19, 2018 to December 27, 2018 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	260,709,579
Subscription price per share \| $ / shares	$ 0.3329
Subscription price total \| $	$ 86,800
Series B Preferred Shares [Member] \| January 8, 2019 to March 25, 2019 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	36,643,370
Subscription price per share \| $ / shares	$ 0.3329
Subscription price total \| $	$ 12,200
Series C Preferred Shares [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	256,449,944
Subscription price total \| $	$ 124,250
Series C Preferred Shares [Member] \| September 10, 2020 to September 30, 2020 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	141,692,465
Subscription price per share \| $ / shares	$ 0.4845
Subscription price total \| $	$ 68,650
Series C Preferred Shares [Member] \| October 5, 2020 to November 5, 2020 [Member]
Disclosure of Preferred Shares Issued Pursuant To Subscription Agreement [Line Items]
Total number of Preferred Shares issue \| shares	114,757,479
Subscription price per share \| $ / shares	$ 0.4845
Subscription price total \| $	$ 55,600

Income Tax (Credit) Expense (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Income Tax [Abstract]

Summary of Information about Components of Tax Expense Income


	Years ended December 31,
	2020			2021		2022
	US$			US$		US$
US CIT
— current year		(205	)		1		1
— over-provision in respect of prior years		(58	)		—		—
Deferred tax (Note 17)		178			—		—

		(85	)		1		1

Summary of Income Tax Expense Income Reconciled to Loss Before Taxation as Per Consolidated Statements


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
Loss before taxation		(74,905	)		(94,796	)		(240,810	)

Tax at the US federal tax rate of 21%		(15,730	)		(19,907	)		(50,570	)
Tax effect of expenses not deductible for tax purpose		10,258			20,419			45,739
Tax effect of income not taxable for tax purpose		(386	)		(309	)		(257	)
Tax effect of additional qualified expenses deductible for tax purpose (note)		—			—			(1,517	)
Over-provision in respect of prior years		(58	)		—			—
Tax effect of tax losses not recognized		6,461			360			7,027
Tax effect of CARES Act		(205	)		—			—
Tax effect of foreign tax differential rates		(425	)		(562	)		(421	)

Income tax (credit) expense for the year		(85	)		1			1

Note: The amount represents additional

% income tax deduction in

respect

of qualifying research and development expenditures incurred for the year.

Consolidated Statements of Changes in Shareholders' Deficit - USD ($)
$ in Thousands

Total

Share capital [member]

Treasury shares [member]

Share premium [member]

Other reserve [member]

^[1]

Share-based payment reserve [member]

Accumulated losses [member]

Balance at the beginning (in Shares) at Dec. 31, 2019

360,791,045

40,583,273

Balance at the beginning at Dec. 31, 2019

$ (60,722)

$ 36

$ (322)

$ 5,722

$ 194

$ 379

$ (66,731)

Loss and total comprehensive expenses for the year

(74,820)

Exercise of share options (Note 25 and 26) (in Shares)

25,949,960

11,918,299

Exercise of share options (Note 25 and 26)

2,930

$ 3

$ (3,099)

6,026

1,345

(1,345)

Forfeiture of vested share options (Note 26)

(8)

Restricted share awards vested (Notes 25 and 26) (in Shares)

(26,135,657)

Restricted share awards vested (Notes 25 and 26)

169

$ 169

(81)

Recognition of equity-settled share-based payment (Note 26)

4,510

Balance at the ending (in Shares) at Dec. 31, 2020

386,741,005

26,365,915

Balance at the ending at Dec. 31, 2020

(127,933)

$ 39

$ (3,252)

11,748

1,620

3,455

(141,543)

Loss and total comprehensive expenses for the year

(94,797)

Exercise of share options (Note 25 and 26) (in Shares)

6,511,135

Exercise of share options (Note 25 and 26)

141

$ 1

140

(51)

Forfeiture of vested share options (Note 26)

(905)

905

Restricted share awards vested (Notes 25 and 26) (in Shares)

(6,352,715)

Restricted share awards vested (Notes 25 and 26)

$ 64

(63)

Early exercised share options vested during the year (Note 25 and 26) (in Shares)

(5,926,452)

Early exercised share options vested during the year (Note 25 and 26)

1,541

$ 1,541

706

(706)

Recognition of equity-settled share-based payment (Note 26)

8,122

Balance at the ending (in Shares) at Dec. 31, 2021

393,252,140

14,086,748

Balance at the ending at Dec. 31, 2021

(212,862)

$ 40

$ (1,647)

11,888

2,440

9,852

(235,435)

Loss and total comprehensive expenses for the year

(240,811)

Exercise of share options (Note 25 and 26) (in Shares)

8,552,187

Exercise of share options (Note 25 and 26)

392

$ 1

391

205

(205)

Forfeiture of vested share options (Note 26)

(1,646)

1,646

Restricted share awards vested (Notes 25 and 26) (in Shares)

(1,164,666)

Restricted share awards vested (Notes 25 and 26)

$ 21

(39)

Early exercised share options vested during the year (Note 25 and 26) (in Shares)

(5,991,847)

Early exercised share options vested during the year (Note 25 and 26)

1,558

$ 1,558

714

(714)

Recognition of equity-settled share-based payment (Note 26)

3,582

Balance at the ending (in Shares) at Dec. 31, 2022

401,804,327

6,930,235

Balance at the ending at Dec. 31, 2022

$ (448,120)

$ 41

$ (68)

$ 12,279

$ 3,398

$ 10,830

$ (474,600)

[1]	Other reserve included amounts transferred from share-based payment reserve when the share options are exercised or the restricted shares are vested.

Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 280
Provided for the year	(162)	$ (133)	$ (117)
Ending balance	485	280
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	55
Ending balance	21	55
Furniture and Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	225
Ending balance	464	225
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	561	511
Additions	367	50
Ending balance	928	561	511
Gross carrying amount [member] \| Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	135	117
Additions		18
Ending balance	135	135	117
Gross carrying amount [member] \| Furniture and Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	426	394
Additions	367	32
Ending balance	793	426	394
Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(281)	(148)
Provided for the year	(162)	(133)
Ending balance	(443)	(281)	(148)
Accumulated depreciation and amortisation [member] \| Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(80)	(49)
Provided for the year	(34)	(31)
Ending balance	(114)	(80)	(49)
Accumulated depreciation and amortisation [member] \| Furniture and Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(201)	(99)
Provided for the year	(128)	(102)
Ending balance	$ (329)	$ (201)	$ (99)

Revenue and Segment Information - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Entitys Revenue And Reportable Segments [Line Items]
Revenue	$ 0	$ 0	$ 0
Foreign countries [member]
Disclosure Of Entitys Revenue And Reportable Segments [Line Items]
Revenue	$ 0	$ 0	$ 0

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2022-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2022-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_32&doctype=Standard
-URIDate 2022-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2022-03-24

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_34&doctype=Standard
-URIDate 2022-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2022-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2022-03-24

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2022-03-24

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_103&doctype=Standard
-URIDate 2022-03-24

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_102&doctype=Standard
-URIDate 2022-03-24

+ Details

Adoption of New and Amendments to IFRSs

12 Months Ended

Dec. 31, 2022

Disclosure of expected impact of initial application of new standards or interpretations [abstract]

Adoption of New and Amendments to IFRSs

3.	ADOPTION OF NEW AND AMENDMENTS TO IFRSs

For the purposes of preparing and presenting the consolidated financial statements, the Group has consistently applied the accounting policies which conform with the IFRSs, which are effective for the Group’s accounting period beginning on January 1, 2022.

New and amendments to IFRSs in issue but not yet effective

The Group has not early applied the following new and amendments to IFRSs and International Accounting Standards (“IASs”) that have been issued but are not yet effective:


IFRS 17 (including the June 2020 and December 2021 Amendments to IFRS 17)		Insurance Contracts 1
Amendments to IFRS 10 and IAS 28		Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 2
Amendments to IFRS 16		Lease Liability in a Sale and Leaseback 3
Amendments to IAS 1		Classification of Liabilities as Current or Non-current 3
Amendments to IAS 1		Non-current Liabilities with Covenant 3
Amendments to IAS 1 and IFRS Practice Statement 2		Disclosure of Accounting Policies 1
Amendments to IAS 8		Definition of Accounting Estimates 1
Amendments to IAS 12		Deferred Tax related to Assets and Liabilities arising from a Single Transaction 1

1	Effective for annual periods beginning on or after January 1, 2023

2	Effective for annual periods beginning on or after a date to be determined

3	Effective for annual periods beginning on or after January 1, 2024

Except for the amendments to IFRSs mentioned below, the management of the Company anticipate that the application of the other new and amendments to IFRSs will have no material impact on the Group’s financial performance and positions and/or the disclosures to the Group’s consolidated financial statements in the foreseeable future.

Amendments to IAS 1

Classification of Liabilities as Current or

Non-current

(2020) (the “2020 Amendments”) and Amendments to IAS 1

Non-current

Liabilities with Covenants

(the “2022 Amendments”)

The 2020 Amendments provide clarification and additional guidance on the assessment of right to defer settlement for at least twelve months from reporting date for classification of liabilities as current or

non-current,

which:

•

clarify that if a liability has terms that could, at the option of the counterparty, result in its settlement by the transfer of the entity’s own equity instruments, these terms do not affect its classification as current or

non-current

only if the entity recognises the option separately as an equity instrument applying IAS 32

Financial Instruments: Presentation

•

specify that the classification of liabilities as current or

non-current

should be based on rights that are in existence at the end of the reporting period. Specifically, the amendments clarify that the classification should not be affected by management intentions or expectations to settle the liability within 12 months.

For rights to defer settlement for at least twelve months from reporting date which are conditional on the compliance with covenants, the requirements introduced by the 2020 Amendments have been modified by the 2022 Amendments. The 2022 Amendments specify that only covenants with which an entity is required to comply with on or before the end of the reporting period affect the entity’s right to defer settlement of a

liability for at least twelve months after the reporting date. Covenants which are required to comply with only after the reporting period do not affect whether that right exists at the end of the reporting period.

In addition, the 2022 Amendments specify the disclosure requirements about information that enables users of financial statements to understand the risk that the liabilities could become repayable within twelve months after the reporting period, if the entity classify liabilities arising from loan arrangements as

non-current

when the entity’s right to defer settlement of those liabilities is subject to the entity complying with covenants within twelve months after the reporting period.

The 2022 Amendments also defer the effective date of applying the 2020 Amendments to annual reporting periods beginning on or after 1 January 2024. The 2022 Amendments, together with the 2020 Amendments, are effective for annual reporting periods beginning on or after 1 January 2024, with early application permitted. If an entity applies the 2020 Amendments for an earlier period after the issue of the 2022 Amendments, the entity should also apply the 2022 Amendments for that period.

As at December 31, 2022, the Group’s outstanding convertible preferred shares include counterparty conversion options that do not meet equity instruments classification by applying IAS 32

Financial instruments: Presentation

. The Group classified as current or

non-current

based on the earliest date in which the Group has the obligation to redeem these instruments through cash settlement. The convertible preferred shares were designated as at fair value through profit or loss (“FVTPL”) with carrying amount of US$

511,861

as of December 31, 2022 and is classified as

non-current

as set out in Note 24. Upon the application of the 2020 Amendments, in addition to the obligation to redeem through cash settlement, the transfer of equity instruments upon the exercise of the conversion options that do not meet equity instruments classification also constitute settlement of the convertible instruments. The convertible preferred shares designated as at FVTPL amounting to US$

511,861

as of December 31, 2022 would be classified as current as the Group

does not have

the right to defer

delivery of shares upon the

the exercise of the conversion options for at least twelve months from the reporting date.

Except for as disclosed above, the application of the amendments is not expected to have significant impact on the Group’s other financial liabilities recognized in the consolidated financial statements.

Amendments to IAS 1 and IFRS Practice Statement 2

Disclosure of Accounting Policies

IAS 1 is amended to replace all instances of the term “significant accounting policies” with “material accounting policy information”. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements.

The amendments also clarify that accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. If an entity chooses to disclose immaterial accounting policy information, such information must not obscure material accounting policy information.

IFRS Practice Statement 2

Making Materiality Judgments

(the “Practice Statement”) is also amended to illustrate how an entity applies the “four-step materiality process” to accounting policy disclosures and to

judge whether information about an accounting policy is material to its financial statements. Guidance and examples are added to the Practice Statement.

The application of the amendments is not expected to have significant impact on the financial position or performance of the Group but may affect the disclosures of the Group’s significant accounting policies. The impacts of application, if any, will be disclosed in the Group’s future consolidated financial statements.

Amendments to IAS 8

Definition of Accounting Estimates

The amendments define accounting estimates as “monetary amounts in financial statements that are subject to measurement uncertainty”. An accounting policy may require items in financial statements to be measured in a way that involves measurement uncertainty — that is, the accounting policy may require such items to be measured at monetary amounts that cannot be observed directly and must instead be estimated. In such a case, an entity develops an accounting estimate to achieve the objective set out by the accounting policy. Developing accounting estimates involves the use of judgments or assumptions based on the latest available, reliable information.

In addition, the concept of changes in accounting estimates in IAS 8 is retained with additional clarifications.

The application of the amendments is not expected to have significant impact on the financial position or performance of the Group but may require additional disclosures of the Group’s significant accounting estimates. The impacts of application, if any, will be disclosed in the Group’s future consolidated financial statements.

Amendments to IAS 12

Deferred Tax related to Assets and Liabilities arising from a Single Transaction

The amendments narrow the scope of the recognition exemption of deferred tax liabilities and deferred tax assets in paragraphs 15 and 24 of IAS 12

Income Taxes

so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences.

As disclosed in note 4 to the consolidated financial statements, for leasing transactions in which the tax deductions are attributable to the lease liabilities, the Group applies IAS 12 requirements to the relevant assets and liabilities as a whole. Temporary differences relating to relevant assets and liabilities are assessed on a net basis.

Upon the application of the amendments, the Group will recognise a deferred tax asset (to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilised) and a deferred tax liability for all deductible and taxable temporary differences associated with the

right-of-use

assets and the lease liabilities.

The amendments are effective for the Group’s annual reporting period beginning on 1 January 2023. As at 31 December 2022, the carrying amounts of

right-of-use

assets and lease liabilities which are subject to the amendments amounted to US$

991 and US$991, respectively. The initial application of the amendments will have no impact on the opening balance of accumulated losses (or other component of equity, as appropriate) at the beginning of the earliest comparative period presented.

Reconciliation of Liabilities Arising from Financing Activities

12 Months Ended

Dec. 31, 2022

Disclosure of reconciliation of liabilities arising from financing activities [abstract]

Reconciliation of Liabilities Arising from Financing Activities

31.	RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES

The table below details changes in the Group’s liabilities arising from financing activities, including both cash and

non-cash

activities.


	Convertible Preferred Shares		Lease liabilities			Accrued issuance costs in respect of convertible Preferred Shares (under other payables)			Accrued share issue costs (under other payables)			Total
	US$		US$			US$			US$			US$
As of January 1, 2020		133,969		1,674			—			—			135,643
Financing cash flows		124,250		(544	)		(3,782	)		(439	)		119,485
Non-cash changes:
Fair value change		26,572		—			—			—			26,572
New leases entered		—		309			—			—			309
Issue costs in respect of convertible Series C Preferred Shares accrued		—		—			3,782			—			3,782
Issue costs accrued		—		—			—			950			950
Interest expense		—		72			—			—			72

As of December 31, 2020		284,791		1,511			—			511			286,813
Financing cash flows		—		(611	)		—			(1,173	)		(1,784	)
Non-cash changes:
Fair value change		37,424		—			—			—			37,424
New leases entered		—		53			—			—			53
Issue costs accrued		—		—			—			1,306			1,306
Interest expense		—		83			—			—			83

As of December 31, 2021		322,215		1,036			—			644			323,895
Financing cash flows		—		(686	)		—			—			(686	)
Non-cash changes:
Fair value change		189,646		—			—			—			189,646
New leases entered		—		548			—			—			548
Reversal on accrued share issue costs		—		—			—			(644	)		(644	)
Interest expense		—		93			—			—			93

As of December 31, 2022		511,861		991			—			—			512,852

Critical Accounting Judgment and Key Sources of Estimation Uncertainty

12 Months Ended

Dec. 31, 2022

Disclosure of Accounting Judgements and Estimates [Abstract]

Critical Accounting Judgment and Key Sources of Estimation Uncertainty

5.	CRITICAL ACCOUNTING JUDGMENT AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Group’s accounting policies, which are described in Note 4, the management of the Company are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an

on-going

basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgment in applying accounting policies

The following is the critical judgment, apart from those involving estimations (see below), that the Company have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements.

Research and development expenses

Development costs incurred on the Group’s research and development projects are capitalized and deferred only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, the Group’s intention to complete and the Group’s ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the pipeline and the ability to measure reliably the expenditure during the development. Development costs which do not meet these criteria are expensed when incurred.

The Company assess the progress of each of the research and development projects and determine whether the criteria are met for capitalization. During the years ended December 31, 2020, 2021 and 2022, all the related development costs are expensed when incurred.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty at the end of each reporting period, that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the coming twelve months, are described below.

Fair value of convertible preferred shares

The convertible preferred shares of the Company are measured at fair value for financial reporting purpose. No quoted prices in an active market are available for these financial liabilities. These financial liabilities were valued by the management with reference to valuations carried out by an independent qualified professional valuer not connected with the Group, which has appropriate qualifications and experience in valuation of similar financial instruments. The fair value of these financial liabilities is established by using valuation techniques as disclosed in Note 24. Valuation techniques are certified by the valuer before being implemented for valuation and are calibrated to ensure that outputs reflect market conditions. Valuation models established by the valuer make the maximum use of market inputs and rely as little as possible on the Group’s specific data. However, it should be noted that some inputs, such as the underlying share value of the Company, possibilities under different scenarios such as initial public offerings (“IPO”) and time to liquidation require management estimates. The estimates and assumptions by the management of the Company are reviewed periodically and are adjusted if necessary. Should any of the estimates and assumptions change, it may lead to a change in the fair value of the financial liabilities at FVTPL. The fair values of the convertible preferred shares which are classified as financial liabilities at FVTPL as at

December 31, 2021 and 2022

were US$322,215 and US$511,861, respectively. The fair value loss recognized in the profit or loss during the years ended December 31, 2020, 2021 and 2022 amounted to US$26,572, US$37,424 and US$189,646, respectively.

Estimated impairment of intangible assets not ready for use

Intangible assets not ready for use are tested annually for impairment, or more frequently, if events or changes in circumstances indicate that they might be impaired. The Group obtained in-licenses through separate acquisition to continue research and development work and commercialize the products, which are classified as intangible assets not ready for use.

Determining whether intangible assets not ready for use is impaired requires an estimation of recoverable amount of the cash-generating unit to which the intangible assets belong, which is the higher of the value in use or fair value less costs of disposal. The value in use calculation requires the Group to estimate the future cash flows expected to arising from the cash-generating unit and a suitable discount rate in order to calculate the present value. Where the actual future cash flows are less than expected, or change in facts and circumstances which results in downward revision of future cash flows or upward revision of discount rate, a material impairment loss or further loss may arise.

The carrying amount of intangible assets not ready for use as at December 31, 2021 and 2022, were US$14,500.

The impairment loss recognised

during the year ended December 31, 2020, 2021 and 2022 amounted to US$1,000, US$3,000 and nil, respectively.

Intangible Assets - Summary of Intangible Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Impairment loss	$ 0	$ 3,000	$ 1,000
Patent Rights [Member]
Disclosure of detailed information about intangible assets [line items]
Impairment loss	$ 0	$ 3,000	$ 1,000

Related Party Disclosures - Summary of Compensation of Key Management Personnel (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Compensation of Key Management Personnel [Line Items]
Short term benefits	$ 2,473	$ 2,214	$ 1,685
Retirement benefit scheme contributions	12	12	9
Share-based payment	1,820	6,131	3,681
Total key management personnel compensation	$ 4,305	$ 8,357	$ 5,375

Financial Assets at FVTPL - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets at fair value through profit or loss [abstract]
Financial assets at FVTPL	$ 19,067	$ 23,744

Related Party Disclosures - Summary of Transactions with Related Party (Detail) - Dr.Redkar [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Executive director of the Company	Executive director of the Company
Loan interest income	Loan interest income
Interest income on loans and receivables		$ 2

Other Payables and Accruals

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Payables And Accruals [Abstract]

Other Payables and Accruals

21.	OTHER PAYABLES AND ACCRUALS


	As of December 31,
	2021		2022
	US$		US$
Payables in respect of research and development expenses		4,248		5,435
Accrued salaries and bonuses		2,485		2,475
Accrued other expenses		2,265		1,662
Accrued share issue costs		644		—
Deposit received for a potential out-licensing drug patent (note)		1,000		1,000
Others		759		1,103

		11,401		11,675

Note:

During the year ended December 31, 2020, the Group signed an exclusive right of negotiation agreement with an independent third party (the “Independent Third Party”) to negotiate

out-licensing

Deposits, Prepayments and Deferred Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Deposits Prepayments and Deferred Expenses [Abstract]

Disclosure of Detailed Information about Deposits Prepayments and Deferred Expenses Explanatory


	As of December 31,
	2021		2022
	US$		US$
Other prepayments		1,554		624
Deferred share issue costs (note)		2,255		—
Prepayments for other expense (note)		443		—
Value-Added Tax recoverable		449		547
Deposits		120		5
Payment in advance to suppliers		6		—

		4,827		1,176

Note:

The deferred share issue costs and prepayments for other expense were related to a public offering application pursuing in other capital market which has been suspended in 2022.

Dividends

12 Months Ended

Dec. 31, 2022

Disclosure Of Dividends [Abstract]

Dividends

12.

DIVIDENDS

No dividend was declared or paid by the Company during the years ended December 31, 2020, 2021 and 2022, nor has any dividend been proposed since the end of the year ended December 31, 2022.

Other Gains and Losses

12 Months Ended

Dec. 31, 2022

Disclosure of Other Gains and Losses [Abstract]

Other Gains and Losses

8.	OTHER GAINS AND LOSSES


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Exchange gains (losses), net		144		36		(829	)

Related Party Disclosures - Additional Information (Detail) - Dr.Redkar [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Jan. 01, 2020
Disclosure of transactions between related parties [line items]
Related Party loan amount outstanding	$ 133	$ 131
Ordinary shares held for collateral		40,849,813
Interest Rate		2.07%

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non-current assets
Plant and equipment	$ 485	$ 280
Right-of-use assets	991	1,036
Intangible assets	14,778	14,798
Rental deposits	124	113
Time deposits with original maturity over three months	4,307	7,842
Total non-current assets	20,685	24,069
Current assets
Deposits, prepayments and deferred expenses	1,176	4,827
Tax recoverable		57
Financial assets at FVTPL	19,067	23,744
Time deposits with original maturity over three months	2,872	24,000
Cash and cash equivalents	32,675	46,740
Total current assets	55,790	99,368
Total assets	76,475	123,437
Current liabilities
Other payables and accruals	11,675	11,401
Financial liabilities arising from unvested restricted shares	68	1,647
Lease liabilities	614	508
Total current liabilities	12,357	13,556
Net current assets	43,433	85,812
Total assets less current liabilities	64,118	109,881
Non-current liabilities
Lease liabilities	377	528
Convertible preferred shares	511,861	322,215
Total non-current liabilities	512,238	322,743
Net liabilities	(448,120)	(212,862)
Equity
Share capital	41	40
Treasury shares	(68)	(1,647)
Share premium	12,279	11,888
Reserves	14,228	12,292
Accumulated losses	(474,600)	(235,435)
Total equity	$ (448,120)	$ (212,862)

Deposits, Prepayments and Deferred Expenses

12 Months Ended

Dec. 31, 2022

Disclosure of Deposits Prepayments and Deferred Expenses [Abstract]

Deposits, Prepayments and Deferred Expenses

18.	DEPOSITS, PREPAYMENTS AND DEFERRED EXPENSES


	As of December 31,
	2021		2022
	US$		US$
Other prepayments		1,554		624
Deferred share issue costs (note)		2,255		—
Prepayments for other expense (note)		443		—
Value-Added Tax recoverable		449		547
Deposits		120		5
Payment in advance to suppliers		6		—

		4,827		1,176

Note:

The deferred share issue costs and prepayments for other expense were related to a public offering application pursuing in other capital market which has been suspended in 2022.

Other Income - Summary of Information about Other Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Detailed Information about Other Income [Line Items]
Interest income (note i)	$ 431	$ 467	$ 330
Government grants (note ii)	1,016	587	1,730
Other income	$ 1,447	$ 1,054	$ 2,060

Revenue and Segment Information - Summary of Information about Groups Non Current Assets by Geographical Location (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of geographical areas [line items]
Non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets, and rights arising under insurance contracts	$ 16,254	$ 16,114
China [Member]
Disclosure of geographical areas [line items]
Non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets, and rights arising under insurance contracts	13,712	13,358
United States [Member]
Disclosure of geographical areas [line items]
Non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets, and rights arising under insurance contracts	$ 2,542	$ 2,756

Schedule I - Additional Financial Information of Parent Company

12 Months Ended

Dec. 31, 2022

Additional information [abstract]

Schedule I - Additional Financial Information of Parent Company

Schedule I - Additional financial information of parent company

APOLLOMICS INC.

Condensed Profit or Loss and Other Comprehensive Income

(All amounts in thousands of US$)


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
Other income		91			42			112
Other gains and losses		(88	)		—			—
Fair value change of financial assets at FVTPL		108			2			323
Fair value change of convertible preferred shares		(26,572	)		(37,424	)		(189,646	)
Research and development expenses		(2,131	)		(2,643	)		(992	)
Administrative expenses		(4,877	)		(4,494	)		(1,982	)
Issuance costs for convertible preferred shares		(3,782	)		—			—
Other expense		(3,307	)		(4,522	)		(5,532	)
Share of loss in subsidiaries		(34,347	)		(45,757	)		(43,094	)

Loss before taxation		(74,905	)		(94,796	)		(240,811	)

Income tax credit (expense)		—			—			—
Loss and total comprehensive expenses for the year, attributable to owners of the Company		(74,905	)		(94,796	)		(240,811	)

Schedule I - Additional financial information of parent company

APOLLOMICS INC.

Condensed Statements of Financial Position

(All amounts in thousands of US$)


	As of December 31,
	2021			2022
	US$			US$
Non-current assets
Intangible assets		1,798			1,778
Amount due from subsidiaries		70,682			70,560

Total non-current assets		72,480			72,338

Current assets
Deposits, prepayments and deferred expenses		2,812			—
Financial assets at FVTPL		23,744			19,067
Cash and cash equivalents		32,861			6,001

Total current assets		59,417			25,068

Total assets		131,897			97,406

Current liabilities
Other payables and accruals		4,690			2,986
Financial liabilities arising from unvested restricted shares		1,647			68

Total current liabilities		6,337			3,054

Net current assets		53,080			22,014

Total assets less current liabilities		125,560			94,352

Non-current liabilities
Convertible preferred shares		322,215			511,861
Deficit in subsidiaries		16,207			30,611

Total non-current liabilities		338,422			542,472

Net liabilities		(212,862	)		(448,120	)

Equity
Share capital		40			41
Treasury shares		(1,647	)		(68	)
Share premium		11,888			12,279
Reserves		12,292			14,228
Accumulated losses		(235,435	)		(474,600	)

		(212,862	)		(448,120	)

Schedule I - Additional financial information of parent company

APOLLOMICS INC.

Condensed Statements of Cash Flows

(All amounts in thousands of US$)


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
OPERATING ACTIVITIES
Loss before taxation		(74,905	)		(94,796	)		(240,811	)
Adjustments for:
Share of loss in subsidiaries		34,347			45,757			43,094
Interest income		(91	)		(42	)		(112	)
Amortization of intangible assets		—			20			20
Fair value change of financial assets at FVTPL		(108	)		(2	)		(323	)
Fair value change of convertible preferred shares		26,572			37,424			189,646
Share-based payment expenses		4,510			4,056			818
Issuance costs for convertible preferred shares		3,782			—			—
Non-cash adjustments to other expenses		—			—			(2,563	)

Operating cash flows before movements in working capital		(5,893	)		(7,583	)		(10,231	)
(Increase)/decrease in deposits, prepayments and deferred expenses		(1,579	)		162			2,812
Increase in other payables and accruals		6,288			1,119			859

NET CASH USED IN OPERATING ACTIVITIES		(1,184	)		(6,302	)		(6,560	)

INVESTING ACTIVITIES
Interest received		91			42			112
Investment in subsidiaries		(16,596	)		(27,150	)		(25,926	)
Advance to subsidiaries		(63,634	)		(4,818	)		(2,013	)
Repayment from subsidiaries		—			—			2,135
Purchase of intangible assets		—			(1,500	)		—
Repayment of loan to a director		131			—			—
Proceeds from disposal of financial asset at FVTPL		—			—			5,000

NET CASH USED IN INVESTING ACTIVITIES		(80,008	)		(33,426	)		(20,692	)

FINANCING ACTIVITIES
Proceeds on issue of convertible preferred shares		124,250			—			—
Proceeds from issue of shares upon exercise of share options		6,029			141			392
Issuance costs paid for convertible preferred shares		(3,782	)		—			—
Accrued issuance costs paid		(439	)		(1,173	)		—

NET CASH FROM (USED IN) FINANCING ACTIVITIES		126,058			(1,032	)		392

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		44,866			(40,760	)		(26,860	)

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR		28,755			73,621			32,861

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR		73,621			32,861			6,001

Schedule I - Additional financial information of parent company

APOLLOMICS INC.

Notes to the condensed Financial Information of Parent Company

1. Schedule I has been provided pursuant to the requirements of Rule

12-04(a)

and

5-04(c)

of Regulation

S-X,

which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

2. The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries. For the purpose of this Schedule I, Apollomics Inc., as the parent company, records its investments in subsidiaries under the equity method of accounting in accordance with International Accounting Standards 27

Separate Financial Statements

, as issued by the International Accounting Standards Board. Such investments are presented on the Condensed Statements of Financial Position as “Investment in subsidiaries”. Ordinarily under the equity, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduce to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of subsidiaries in investment in subsidiaries regardless of the carrying value of the investment in subsidiaries even though the parent company is not obligated to provide continuing support or fund losses. The excess amount is recorded as “Deficit in subsidiaries” on the Condensed Statements of Financial Position.

3. Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRSs have been condensed or omitted. The footnote disclosures provide certain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the accompanying consolidated financial statements.

4. As of December 31, 2021 and 2022, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or guarantees of Apollomics Inc, other than the redemption requirements of convertible preferred shares.

Revenue and Segment Information

12 Months Ended

Dec. 31, 2022

Disclosure of Entity Revenue and Reportable Segments [Abstract]

Revenue and Segment Information

6.	REVENUE AND SEGMENT INFORMATION

Revenue

The Group has not generated any revenue throughout the years ended December 31, 2020, 2021 and 2022.

Segment information

For the purposes of resources allocation and performance assessment, the Chief Executive Officer of the Company, being the chief operating decision maker, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole and hence, the Group has only one operating and reportable segment and no further analysis of this single segment is presented.

Geographical information

The Group did not record any revenue throughout the years ended December 31, 2020, 2021 and 2022 and the Group’s

non-current

assets are located in the US and the PRC. Information about the Group’s

non-current

assets, excluding rental deposits and time deposits with original maturity over three months, by geographical location of the assets is detailed below:


	As of December 31,
	2021		2022
	US$		US$
PRC		13,358		13,712
US		2,756		2,542

		16,114		16,254

Financial Instruments - Summary of Internal Credit Risk Grading Assessment Comprises (Detail) - Financial Assets at Amortized Cost [Member]	12 Months Ended
	Dec. 31, 2022
Low Risk [Member]
Disclosure of internal credit grades [line items]
Description	The counterparty has a low risk of default and does not have any past-due amounts
Financial assets at amortized cost	12-month ECL
Watch List [Member]
Disclosure of internal credit grades [line items]
Description	Debtor frequently repays after due dates but settles the amounts in full
Financial assets at amortized cost	12-month ECL
Doubtful [Member]
Disclosure of internal credit grades [line items]
Description	There have been significant increases in credit risk since initial recognition through information developed internally or external resources
Financial assets at amortized cost	Lifetime ECL - not credit-impaired
Loss [Member]
Disclosure of internal credit grades [line items]
Description	There is evidence indicating the asset is credit-impaired
Financial assets at amortized cost	Lifetime ECL - credit-impaired
Write-off [Member]
Disclosure of internal credit grades [line items]
Description	There is evidence indicating that the debtor is in severe financial difficulty and the Group has no realistic prospect of recovery
Financial assets at amortized cost	Amount is written off

Plant and Equipment

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [abstract]

Plant and Equipment

14.	PLANT AND EQUIPMENT


	Leasehold improvements			Furniture and other equipment			Total
	US$			US$			US$
COST
As of January 1, 2021		117			394			511
Additions		18			32			50

As of December 31, 2021		135			426			561
Additions		—			367			367

As of December 31, 2022		135			793			928

DEPRECIATION
As of January 1, 2021		(49	)		(99	)		(148	)
Provided for the year		(31	)		(102	)		(133	)

As of December 31, 2021		(80	)		(201	)		(281	)
Provided for the year		(34	)		(128	)		(162	)

As of December 31, 2022		(114	)		(329	)		(443	)

CARRYING VALUES
As of December 31, 2021		55			225			280

As of December 31, 2022		21			464			485

The above items of plant and equipment are depreciated over their estimated useful lives, using straight-line method after taking into account the residual values, at the following rates per annum:


		Leasehold improvements		Over the shorter of the relevant lease term or 20%
		Furniture and other equipment		14% - 33%

Time Deposits with Original Maturity Over Three Months/Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2022

Disclosure of Time Deposits with Banks [Abstract]

Time Deposits with Original Maturity Over Three Months/Cash and Cash Equivalents

20.	TIME DEPOSITS WITH ORIGINAL MATURITY OVER THREE MONTHS/CASH AND CASH EQUIVALENTS

The time deposits with original maturity over three months are placed with licensed commercial banks in the PRC, carry interest at a fixed rate of 3.70% per annum. For the

non-current

portion of the time deposits with original maturity over three months, the management did not expect to collect cash within 12 months as of December 31, 2021 and 2022.

Bank balances include demand deposits, presenting as cash and cash equivalent, carry interest at prevailing market interest rates ranging from 0.01% to 0.05% and from 0.01% to 3.05% for the years ended December 31, 2021 and 2022, respectively.

Intangible Assets

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about intangible assets [abstract]

Intangible Assets

16.	INTANGIBLE ASSETS


	Patent rights (available for use)			Patent rights (not yet available for use)			Total
	US$			US$			US$
	(note i)			(note ii)
COST
As of January 1, 2021		375			11,000			11,375
Addition		—			7,500			7,500

As of December 31, 2021 and 2022		375			18,500			18,875

AMORTIZATION AND IMPAIRMENT
As of January 1, 2021		(57	)		(1,000	)		(1,057	)
Charge for the year		(20	)		—			(20	)
Impairment loss recognized		—			(3,000	)		(3,000	)

As of December 31, 2021		(77	)		(4,000	)		(4,077	)
Charge for the year		(20	)		—			(20	)

As of December 31, 2022		(97	)		(4,000	)		(4,097	)

CARRYING VALUES
As of December 31, 2021		298			14,500			14,798

As of December 31, 2022		278			14,500			14,778

Notes:

(i)

The patent rights grant the Group the right to use certain scientific data for research and manufacture of pipelines, namely

APL-501,

APL-502

and

APL-509.

(ii)

These patent rights are not yet available for use by the Group as the Group is still undergoing

pre-clinical

Accordingly, the Group has fully impaired the patent rights with reference to their respective recoverable amounts determined on value in use calculations.

The patent rights (available for use) have finite lives and are amortized on a straight-line basis. The useful lives of patent rights ranged between 10 to 18 years for the years ended December 31, 2020, 2021 and 2022. The useful lives of patent rights were determined by the management of the Group taking into account the period over which the patent rights are expected to be available for use by the Group and the stability of the industry.

Restricted Net Assets

12 Months Ended

Dec. 31, 2022

Restricted Assets [Abstract]

Restricted Net Assets

33.	RESTRICTED NET ASSETS

The Company’s ability to pay dividends may depend on the Company receiving distributions of funds from its subsidiaries. The Company’s PRC subsidiaries are subject to relevant PRC statutory laws and regulations which permit payments of dividends only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the consolidated financial statements prepared in accordance with IFRSs differ from those reflected in the statutory financial statements of the Company’s PRC subsidiaries. Foreign exchange and other regulations in the PRC further restrict the Company’s PRC subsidiaries from transferring funds to the Company in the form of dividends, loans and advances. As of December 31, 2021 and 2022, amounts restricted are the

paid-in

capital of the Company’s PRC subsidiaries, which amounted to US$52,298 and US$52,298, respectively.

Financial Instruments - Summary of Assets and Liabilities Denominated in Foreign Currencies (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Detailed Information about Assets and Liabilities Denominated in Foreign Currencies [Line Items]
Assets	$ 10,240	$ 9,521
Liabilities	2,659	1,056
Renminbi ("RMB")
Disclosure of Detailed Information about Assets and Liabilities Denominated in Foreign Currencies [Line Items]
Assets	8,940	8,376
Liabilities	1,210	512
AUD [Member]
Disclosure of Detailed Information about Assets and Liabilities Denominated in Foreign Currencies [Line Items]
Assets	1,300	1,145
Liabilities	$ 1,449	$ 544

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + Details

Capital Risk Management

12 Months Ended

Dec. 31, 2022

Capital Risk Management [Abstract]

Capital Risk Management

27.	CAPITAL RISK MANAGEMENT

The Group manages its capital to ensure the Group will be able to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance. The Group’s overall strategy remains unchanged throughout the years ended December 31, 2020, 2021 and 2022.

The capital structure of the Group consists of net debt, which includes lease liabilities and Preferred Shares as disclosed in Notes 23 and 24, respectively, net of cash and cash equivalents, and equity attributable to owners of the Company, comprising issued share capital, share premium, accumulated losses and various reserves.

The directors of the Company regularly review the capital structure from time to time. As part of this review, the directors of the Company consider the cost of capital and the risks associated with each class of capital. Based on recommendations of the directors of the Company, the Group will balance its overall capital structure through the payment of dividends, new share issues as well as raising new debts or redemption of existing debts.

Major Non-Cash Transactions

12 Months Ended

Dec. 31, 2022

Major Non-Cash Transactions [Abstract]

Major Non-Cash Transactions

32.	MAJOR NON-CASH TRANSACTIONS

During the years ended December 31, 2020, 2021 and 2022:

(i)

the Group entered into new lease agreements for the use of offices and, plant and equipment for 12 months to 60 months. On the lease commencement, the Group recognized US$309, US$53 and US$548 of

right-of-use

asset and lease liabilities, respectively;

(ii)

financial liabilities arising from unvested restricted shares and treasury shares of US$169, US$1,605 and US$

1,579

, respectively have been derecognized upon vesting of restricted shares; and

(iii)

financial liabilities arising from unvested share options of US$3,099, nil and nil, respectively have been recognized upon the early exercise of share options during the vesting period.

General Information (Tables)

12 Months Ended

Dec. 31, 2022

General Information [Abstract]

Summary of Information about Consolidated Financial Statements and Company Principal Subsidiaries

The consolidated financial statements are presented in U.S. dollars (“US$”) and subsidiaries included in the consolidated financial statements as below:


Name of subsidiaries	Place of incorporation or establishment/operation and date of incorporation/establishment	Principal activities
Apollomics, Inc.	California, United States January 14, 2016	Research and development of drugs
Apollomics (Australia) Pty. Ltd.	Melbourne, Australia November 4, 2016	Research and development of drugs
Apollomics (Hong Kong) Limited	Hong Kong, China June 24,2019	Investment holding
Zhejiang Crownmab Biotech Co., Ltd.	Hangzhou, China May 29, 2018	Investment holding and research and development of drugs
Zhejiang Crown Bochuang Biopharma Co., Ltd.	Hangzhou, China May 29, 2020	Research and development of drugs
Project Max SPAC Merger Sub, Inc.	Delaware, United States August 19, 2022	Investment holding

Loss Per Share

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Loss Per Share

13.	LOSS PER SHARE

The calculations of the basic and diluted loss per share are based on the following data:


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
Loss:
Loss for the year attributable to owners of the Company for the purpose of calculating basic and diluted loss per share		(74,820	)		(94,797	)		(240,811	)

Number of shares (‘000):
Weighted average number of ordinary shares for the purpose of calculating basic and diluted loss per share		361,480			404,186			390,944

As of December 31, 2020, 2021 and 2022, Series A1, A2, B and C convertible preferred shares, unvested restricted shares and share options outstanding were excluded from the calculation of diluted loss per share as their inclusion would have been anti-dilutive.


	As of December 31,
	2020		2021		2022
Number of series A1 convertible preferred shares (“Series A1 Preferred Shares”)		132,057,583		132,057,583		132,057,583
Number of series A2 convertible preferred shares (“Series A2 Preferred Shares”)		73,371,157		73,371,157		73,371,157
Number of series B convertible preferred shares (“Series B Preferred Shares”)		297,352,949		297,352,949		297,352,949
Number of series C convertible preferred shares (“Series C Preferred Shares”)		256,449,944		256,449,944		256,449,944
Unvested restricted shares		14,447,616		8,094,901		6,930,235
Share options		151,133,235		155,059,183		135,979,705

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Disclosure of Summary of Significant Accounting Policies [Abstract]
Impairment loss	$ 0
Proceeds from sale or issue of treasury shares	$ 0

Intangible Assets - Additional Information (Detail) - Patent Rights [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Bottom of range [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives of patent rights	10 years	10 years	10 years
Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives of patent rights	18 years	18 years	18 years

Schedule I - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Loss before taxation	$ (240,810)	$ (94,796)	$ (74,905)
Adjustments for:
Interest income	(431)	(467)	(330)
Amortization of intangible assets	20	20	20
Fair value change of financial assets at FVTPL	(323)	(2)	(108)
Fair value change of convertible preferred shares	189,646	37,424	26,572
Share-based payment expenses	3,582	8,122	4,510
Issuance costs for convertible preferred shares			3,782
Non-cash adjustments to other expenses	(2,563)
Operating cash flows before movements in working capital	(49,368)	(45,955)	(38,798)
(Increase)/decrease in deposits, prepayments and deferred expenses	3,651	(453)	(940)
Increase in other payables and accruals	2,837	3,096	4,001
NET CASH USED IN OPERATING ACTIVITIES	(42,824)	(43,312)	(35,681)
INVESTING ACTIVITIES
Interest received	431	467	330
Purchase of intangible assets		(7,500)	(10,000)
Repayment of loan to a director			131
Proceeds from disposal of financial asset at FVTPL	5,000		7,000
NET CASH FROM (USED IN) INVESTING ACTIVITIES	29,053	(38,950)	2,325
FINANCING ACTIVITIES
Proceeds on issue of convertible preferred shares			124,250
Proceeds from issue of shares upon exercise of share options	392	141	6,029
Issuance costs paid for convertible preferred shares			(3,782)
Accrued issuance costs paid		(1,173)	(439)
NET CASH FROM (USED IN) FINANCING ACTIVITIES	(294)	(1,643)	125,514
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(14,065)	(83,905)	92,158
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	46,740	130,645	38,487
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	32,675	46,740	130,645
Separate [Member]
OPERATING ACTIVITIES
Loss before taxation	(240,811)	(94,796)	(74,905)
Adjustments for:
Share of loss in subsidiaries	43,094	45,757	34,347
Interest income	(112)	(42)	(91)
Amortization of intangible assets	20	20
Fair value change of financial assets at FVTPL	(323)	(2)	(108)
Fair value change of convertible preferred shares	189,646	37,424	26,572
Share-based payment expenses	818	4,056	4,510
Issuance costs for convertible preferred shares			3,782
Non-cash adjustments to other expenses	(2,563)
Operating cash flows before movements in working capital	(10,231)	(7,583)	(5,893)
(Increase)/decrease in deposits, prepayments and deferred expenses	2,812	162	(1,579)
Increase in other payables and accruals	859	1,119	6,288
NET CASH USED IN OPERATING ACTIVITIES	(6,560)	(6,302)	(1,184)
INVESTING ACTIVITIES
Interest received	112	42	91
Investment in subsidiaries	(25,926)	(27,150)	(16,596)
Advance to subsidiaries	(2,013)	(4,818)	(63,634)
Repayment from subsidiaries	2,135
Purchase of intangible assets		(1,500)
Repayment of loan to a director			131
Proceeds from disposal of financial asset at FVTPL	5,000
NET CASH FROM (USED IN) INVESTING ACTIVITIES	(20,692)	(33,426)	(80,008)
FINANCING ACTIVITIES
Proceeds on issue of convertible preferred shares			124,250
Proceeds from issue of shares upon exercise of share options	392	141	6,029
Issuance costs paid for convertible preferred shares			(3,782)
Accrued issuance costs paid		(1,173)	(439)
NET CASH FROM (USED IN) FINANCING ACTIVITIES	392	(1,032)	126,058
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(26,860)	(40,760)	44,866
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	32,861	73,621	28,755
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	$ 6,001	$ 32,861	$ 73,621

Share Capital/Treasury Shares (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of classes of share capital [abstract]

Summary of Share Capital

The share capital as of December 31, 2020, 2021 and 2022 represented the issued ordinary share capital of the Company.


	Notes		Number of shares		Par value per share		Amount
					US$		US$
Authorized:
As of January 1, 2020, December 31, 2020, 2021 and 2022				444,343,488				44

Issued and fully paid:
As of January 1, 2020				360,791,045				36
Exercise of share options		(i)		25,949,960		0.0001		3

As of December 31, 2020				386,741,005				39
Exercise of share options vested		(ii)		6,511,135		0.0001		1

As of December 31, 2021				393,252,140				40
Exercise of share options vested		(ii)		8,552,187		0.0001		1

As of December 31, 2022				401,804,327				41

All the ordinary shares and restricted shares issued during the years ended December 31, 2020, 2021 and 2022 rank

pari passu

with the existing shares in all respects.

Notes:

(i)

(ii)

(iii)

Summary of Treasury Shares


	Number of treasury shares			Subscription price per share		Amount
				US$		US$
As of January 1, 2020		40,583,273					322
Unvested share options early exercised		11,918,299			0.26		3,099
Restricted shares vested		(26,135,657	)		0.003~0.01		(169	)

As of December 31, 2020		26,365,915					3,252
Restricted shares vested		(6,352,715	)		0.01		(64	)
Early exercised share options vested		(5,926,452	)		0.26		(1,541	)

As of December 31, 2021		14,086,748					1,647
Restricted shares vested		(1,164,666	)		0.01		(21	)
Early exercised share options vested		(5,991,847	)		0.26		(1,558	)

As of December 31, 2022		6,930,235					68

Right-of-Use Assets - Summary of Quantitative Information about Right-of-Use Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	$ 1,036
Provided for the year	593	$ 528	$ 472
Ending balance	991	1,036
Offices [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	1,018
Ending balance	977	1,018
Plant and Equipment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	18
Ending balance	14	18
Cost [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	2,429	2,376
Additions	548	53
Derecognised upon end of lease term	(53)
Ending balance	2,924	2,429	2,376
Cost [Member] \| Offices [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	2,367	2,319
Additions	538	48
Derecognised upon end of lease term	(40)
Ending balance	2,865	2,367	2,319
Cost [Member] \| Plant and Equipment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	62	57
Additions	10	5
Derecognised upon end of lease term	(13)
Ending balance	59	62	57
Depreciation [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	(1,393)	(865)
Provided for the year	(593)	(528)
Derecognised upon end of lease term	53
Ending balance	(1,933)	(1,393)	(865)
Depreciation [Member] \| Offices [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	(1,349)	(836)
Provided for the year	(579)	(513)
Derecognised upon end of lease term	40
Ending balance	(1,888)	(1,349)	(836)
Depreciation [Member] \| Plant and Equipment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	(44)	(29)
Provided for the year	(14)	(15)
Derecognised upon end of lease term	13
Ending balance	$ (45)	$ (44)	$ (29)

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Disclosure of Basic and Diluted Loss Per Share

The calculations of the basic and diluted loss per share are based on the following data:


	Years ended December 31,
	2020			2021			2022
	US$			US$			US$
Loss:
Loss for the year attributable to owners of the Company for the purpose of calculating basic and diluted loss per share		(74,820	)		(94,797	)		(240,811	)

Number of shares (‘000):
Weighted average number of ordinary shares for the purpose of calculating basic and diluted loss per share		361,480			404,186			390,944

Disclosure of Detailed Information about Anti Dilutive Securities Excluded from Computation of Diluted Loss Per Share


	As of December 31,
	2020		2021		2022
Number of series A1 convertible preferred shares (“Series A1 Preferred Shares”)		132,057,583		132,057,583		132,057,583
Number of series A2 convertible preferred shares (“Series A2 Preferred Shares”)		73,371,157		73,371,157		73,371,157
Number of series B convertible preferred shares (“Series B Preferred Shares”)		297,352,949		297,352,949		297,352,949
Number of series C convertible preferred shares (“Series C Preferred Shares”)		256,449,944		256,449,944		256,449,944
Unvested restricted shares		14,447,616		8,094,901		6,930,235
Share options		151,133,235		155,059,183		135,979,705

Income Tax (Credit) Expense - Summary of Income Tax Expense Income Reconciled to Loss Before Taxation as Per Consolidated Statements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Loss before taxation	$ (240,810)	$ (94,796)	$ (74,905)
Tax at the US federal tax rate of 21%	(50,570)	(19,907)	(15,730)
Tax effect of expenses not deductible for tax purpose	45,739	20,419	10,258
Tax effect of income not taxable for tax purpose	(257)	(309)	(386)
Tax effect of additional qualified expenses deductible for tax purpose (note)	(1,517)	0	0
over-provision in respect of prior years	0	0	(58)
Tax effect of tax losses not recognized	7,027	360	6,461
Tax effect of CARES Act	0	0	(205)
Tax effect of foreign tax differential rates	(421)	(562)	(425)
Tax expense (income)	$ 1	$ 1	$ (85)

Other Income (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Detailed Information about Other Income [Line Items]

Summary of Information about Other Income


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Interest income (note i)		330		467		431
Government grants (note ii)		1,730		587		1,016

		2,060		1,054		1,447

Share Capital/Treasury Shares - Summary of Treasury Shares (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Treasury Shares [Line Items]
Number of treasury shares, Beginning	14,086,748	26,365,915	40,583,273
Treasury shares value, Beginning	$ 1,647	$ 3,252	$ 322
Unvested share options early exercised			11,918,299
Unvested share options early exercised, subscription price per share			$ 0.26
Unvested share options early exercised, value			$ 3,099
Restricted shares vested	(1,164,666)	(6,352,715)	(26,135,657)
Restricted shares vested, subscription price per share	$ 0.01	$ 0.01
Restricted shares vested, value	$ (21)	$ (64)	$ (169)
Early exercised share options vested	(5,991,847)	(5,926,452)
Early exercised share options vested, subscription price per share	$ 0.26	$ 0.26
Early exercised share options vested, value	$ (1,558)	$ (1,541)
Number of treasury shares, Ending	6,930,235	14,086,748	26,365,915
Treasury shares value, Beginning	$ 68	$ 1,647	$ 3,252
Treasury shares [member] \| Top of Range [Member]
Disclosure Of Treasury Shares [Line Items]
Restricted shares vested, subscription price per share			$ 0.01
Treasury shares [member] \| Bottom of Range [Member]
Disclosure Of Treasury Shares [Line Items]
Restricted shares vested, subscription price per share			$ 0.003

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Transactions with Related Party

Save as disclosed elsewhere in the consolidated financial statements, the Group also entered into the following transactions with its related party:

Years ended December 31,

Related parties

Relationship

Nature of transactions

2020

2021

2022

US$

Dr. Redkar

Executive director of the Company

Loan interest income

—

Summary of Compensation of Key Management Personnel

The remuneration of directors of the Company and other members of key management were as follows:


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Short term benefits		1,685		2,214		2,473
Retirement benefit scheme contributions		9		12		12
Share-based payment		3,681		6,131		1,820

		5,375		8,357		4,305

Financial Liabilities Arising from Unvested Restricted Shares - Summary of Financial Liabilities Arising From Unvested Restricted Shares (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Chief Executive Officer [Member] \| Financial Liabilities, Arising From Unvested Restricted Shares [Member] \| Dr. Yu [Member]
Disclosure of financial liabilities [line items]
Current financial liabilities at amortised cost	$ 68	$ 1,647

Financial Instruments

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about financial instruments [abstract]

Financial Instruments

28.	FINANCIAL INSTRUMENTS

Categories of financial instruments


	As of December 31,
	2021		2022
	US$		US$
Financial assets
Financial assets at FVTPL		23,744		19,067
Amortized cost		78,702		39,983

Financial liabilities
Financial liability at FVTPL		322,215		511,861
Amortized cost		7,654		7,606

Financial risk management objectives and policies

Financial risk factors

The Group’s major financial instruments include rental deposits, financial asset at FVTPL, time deposits with original maturity over three months, cash and cash equivalents, other payables, financial liabilities arising from unvested restricted shares and convertible preferred shares. Details of the financial instruments are disclosed in respective notes. The Group’s activities expose it to a variety of financial risks: market risk

(including currency risk, interest rate risk and other price risk), credit and counterparty risk and liquidity risk. The policies on how to mitigate these risks are set out below. The management of the Company manage and monitor these exposures to ensure appropriate measures are implemented on a timely and effective manner.

Market risk

Currency risk

Certain bank balances, deposits and other payables are denominated in currencies other than the functional currency of the group entities, which exposes the Group to foreign currency risk.

The Group currently does not have a foreign currency hedging policy. However, the management monitors foreign exchange exposure and will consider hedging significant foreign currency exposure should the need arise.

The carrying amounts of the Group’s foreign currency denominated m

etary assets and monetary liabilities at the end of each reporting period are as follows:


	Assets				Liabilities
	As of December 31,				As of December 31,
	2021		2022		2021		2022
	US$		US$		US$		US$
Renminbi (“RMB”)		8,376		8,940		512		1,210
AUD		1,145		1,300		544		1,449

		9,521		10,240		1,056		2,659

Sensitivity analysis

The Group is mainly exposed to the fluctuation of foreign exchange rate of RMB and AUD.

e following table details the Group’s sensitivity to a 5% decrease in the functional currency of the relevant group entities against the relevant foreign currencies. The following sensitivity anal

sis includes only outstanding monetary items denominated in foreign currencies and adjusts their translation at the year end for a 5% change in foreign currency exchange rate, which is the sensitivity rates used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in currencies exchange rates. A positive (negative) number below indicates a decrease (increase) in loss for the year when the foreign currency below strengthen 5% against the functional currency of the relevant group entities. For a 5% weakening of these foreign currencies against the functional currency of the relevant group entities, there would be an equal and opposite impact on the loss for the year.


	Years ended December 31,
	2020			2021		2022
	US$			US$		US$
Impact of RMB on loss for the year		(18	)		295		386
Impact of AUD on loss for the year		49			22		(7	)

In management’s opinion, the sensitivity analysis is unrepresentative of the inherent foreign exchange risk as the year end exposure does not reflect the exposure during the years ended December 31, 2020, 2021 and 2022.

Interest rate risk

The Group are exposed to fair value interest rate risk in relation to time deposits, lease liabilities and Preferred Shares as disclosed in Notes 20, 23 and 24, respectively.

The Group are also exposed to cash flow interest rate risk in relation to variable-rate bank balances as disclosed in Note 20. The Group’s cash flow interest rate risk are mainly concentrated on the fluctuation of interest rates on bank balances. The management of the Company consider that the exposure of cash flow interest rate risk arising from variable-rate bank balances is insignificant, therefore no sensitivity analysis on such risk has been prepared.

Other price risk

The Group are exposed to other price risk arising from P

ref

erred Shares and the investment in market fund in the US.

Sensitivity analysis

Preferred Shares

The sensitivity analysis of the Preferred Shares has been disclosed in Note 28(c).

Investment in market fund in the US

No sensitivity analysis is performed as the management of the Company consider that the exposure of other price risk arising from the investment in market fund in the US is insignificant because the investment is mainly on US treasury bonds with high credit rating and liquidity.

Credit and counterparty risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting financial loss to the Group.

In order to minimize the credit

risk

, the Company reviews the recoverable amount of each individual debt at the end of each reporting period to ensure that adequate impairment losses are made for irrecoverable amounts. In this regard, the management of the Company consider that the Group’s credit risk are significantly reduced.

The Group’s internal credit risk grading assessment comprises the following categories:


Internal credit rating	Description	Financial assets at amortized cost
Low risk	The counterparty has a low risk of default and does not have any past-due amounts	12-month ECL
Watch list	Debtor frequently repays after due dates but settles the amounts in full	12-month ECL
Doubtful	There have been significant increases in credit risk since initial recognition through information developed internally or external resources	Lifetime ECL - not credit-impaired
Loss	There is evidence indicating the asset is credit-impaired	Lifetime ECL - credit-impaired
Write-off	There is evidence indicating that the debtor is in severe financial difficulty and the Group has no realistic prospect of recovery	Amount is written off

External

credit

rating

Internal

credit rating

12-month

ECL

or lifetime ECL

The Group

As of December 31,

2021

2022

US$

Financial assets at amortized cost (at gross carrying amount)

Deposits

N/A

Low risk

12-month ECL

120

129

Time deposits with original maturity over three months

N/A

12-month

ECL

31,842

7,179

Cash and cash equivalents

A3 to Aa2

N/A

12-month

ECL

46,740

32,675

78,702

39,983

Deposits

The Group assessed the ECL for its deposits individually based on internal credit rating which, in the opinion of the management of the Company, have no significant increase in credit risk since initial recognition. ECL is estimated based on historical observed default rates over the expected life of debtors and is adjusted for forward-looking information that is available without undue cost or effort. No

12-month

ECL was made as of December 31, 2021 and 2022, as the counterparties involved are considered with low risk (based on the internal credit rating) and the ECL involved is not material.

Cash and cash equivalents and time deposits with original maturity over three months

A significant portion of the Group’s bank balances and deposits are placed with international banks in the US. The credit risks on bank balances and deposits are limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies and are all classified as low risk by the Group by reference to available external credit rating.

Other than the credit risks mentioned above, the Group do not have any other significant concentration of credit risk.

12-month

ECL has been provided during the years ended December 31, 2020, 2021 and 2022, the management of the Company have assessed the impact and concluded the ECL involved is not material.

Liquidity risk

As at December 31, 2022, the Group recorded net liabilities of US$$

448,120

. In the management of liquidity risk, the management of the Company have reviewed the Group’s cash flow projections to ensure the Group maintains a level of cash and cash equivalents deemed adequate by the management to finance the Group’s operations and mitigate the effects of fluctuations in cash flows. The Group are dependent upon its Preferred Shares as significant sources of liquidity.

The following table details the Group’s remaining contractual maturity for its

non-derivative

financial liabilities and lease liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities and lease liabilities based on the earliest date on which the Group can be required to pay. The table includes both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate at the end of each reporting period.

Liquidity and interest risk table


	Weighted average interest rate		On demand or less than 1 month		1 to 3 months		3 months to 1 year		1 to 2 years		2 to 4 years		Total undiscounted cash flows		Carrying amount
	%		US$		US$		US$		US$		US$		US$		US$
December 31, 2021
Convertible Preferred Shares (note)		12		—		—		—		318,399		—		318,399		274,966
Other payables		N/A		6,007		—		—		—		—		6,007		6,007
Financial liabilities arising from unvested restricted shares		N/A		1,647		—		—		—		—		1,647		1,647

Total				7,654		—		—		318,399		—		326,053		282,620

Lease liabilities		5.42		48		108		447		592		23		1,218		1,036

December 31, 2022
Convertible Preferred Shares (note)		12		—		—		—		338,492		—		338,492		378,332
Other payables		N/A		7,538		—		—		—		—		7,538		7,538
Financial liabilities arising from unvested restricted shares		N/A		68		—		—		—		—		68		68

Total				7,606		—		—		338,492		—		346,098		385,938

Lease liabilities		5.38		49		268		391		143		260		1,111		991

Note:

The cash outflow for Preferred Shares included those for Series B Preferred Shares and Series C Preferred Shares which have redemption feature as disclosed in Note 24(c). There is

redemption feature for Series A Preferred Shares and the Series A Preferred Shares with carrying amounts of US$47,249 and US$133,529 as of December 31, 2021 and 2022, respectively, have not been presented in above table. The timing of the cash outflow and the weighted average interest rate for the Preferred Shares are determined based on the date of the management expected to redeem the Redeeming Preferred Shared as

December 31, 2021 and 2022, respectively.

Fair values measurements of financial instruments

(i)

Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis

Some of the Group’s financial assets and financial liabilities are measured at fair value at the end of each reporting period. The following table gives information about how the fair values of these financial assets and financial liabilities are determined (in particular, the valuation techniques and inputs used).

(i)

air value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis - continued

Fair value as of

Fair value

hierarchy

Valuation technique(s) and key

inputs

Significant

unobservable

inputs

Relationship of

unobservable

inputs to fair

value

December 31,

2021

2022

US$

Financial assets

Market fund

23,744

19,067

Level 2

Redemption value
quoted by banks
with reference to
the expected
return of the
underlying assets

N/A

Financial liabilities

Convertible Preferred Shares

322,215

511,861

Level 3

Black-scholes
model and OPM
method — the
key inputs are:
time to
liquidation, risk-
free rate,
expected
volatility and
possibilities for
IPO/liquidation
scenario

Possibility for
IPO scenario
(note)

The
higher the
possibility
for IPO
scenario,
the higher
the fair
value, and
vice versa

Note:

A 10% increase or decrease in the possibility for IPO scenario holding all other variables constant will increase or decrease the fair value of convertible Preferred Shares by US$23,811 or US$22,166 and US$42,888 or US$41,969 as of December 31, 2021 and 2022, respectively.

(ii)

Reconciliation of Level 3 fair value measurements

Details of reconciliation of Level 3 fair value measurement for the convertible Preferred Shares are set out in Note

. All the unrealized fair value changes of US$26,572, US$37,424 and US$189,646 for the years ended December 31, 2020, 2021 and 2022, respectively, relate to the convertible Preferred Shares were recognized in the profit or loss.

(iii)

Fair value of financial assets and financial liabilities that are not measured at fair value

The management of the Company consider that the carrying amount of the Group’s financial assets and financial liabilities recorded at amortized cost in the consolidated financial statements approximate their fair values. Such fair values have been determined in accordance with generally accepted pricing models based on a discounted cash flow analysis.

Adoption of New and Amendments to IFRSs - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Financial liabilities at fair value through profit or loss	$ 511,861	$ 322,215
Right-of-use assets	991	1,036
Lease liabilities	991	1,036
Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Right-of-use assets	991
Lease liabilities	991
Convertible Preferred Shares [Member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Financial liabilities at fair value through profit or loss	511,861	$ 322,215
Convertible Preferred Shares [Member] \| Classification of Liabilities as Current or Non-current [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Financial liabilities at fair value through profit or loss	$ 511,861

Convertible Preferred Shares - Disclosure of Movement in Preference Shares at End of Each Reporting Period (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Movement in Preference Shares at End of Each Reporting Period [Line Items]
Ending Balance	$ 448,120
Series C Preferred Shares [Member] \| Preferred Shares [Member] \| Level 3 Fair Value [Member]
Disclosure of Movement in Preference Shares at End of Each Reporting Period [Line Items]
Beginning Balance	322,215	$ 284,791	$ 133,969
Issue of Series C Preferred Shares			124,250
Change in fair value	189,646	37,424	26,572
Ending Balance	$ 511,861	$ 322,215	$ 284,791

Schedule I - Condensed Statements of Financial Position (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Intangible assets	$ 14,778	$ 14,798
Total non-current assets	20,685	24,069
Current assets
Deposits, prepayments and deferred expenses	1,176	4,827
Financial assets at FVTPL	19,067	23,744
Cash and cash equivalents	32,675	46,740	$ 130,645	$ 38,487
Total current assets	55,790	99,368
Total assets	76,475	123,437
Current liabilities
Other payables and accruals	11,675	11,401
Financial liabilities arising from unvested restricted shares	68	1,647
Total current liabilities	12,357	13,556
Net current assets	43,433	85,812
Total assets less current liabilities	64,118	109,881
Non-current liabilities
Convertible preferred shares	511,861	322,215
Total non-current liabilities	512,238	322,743
Net liabilities	448,120
Equity
Share capital	41	40
Treasury shares	(68)	(1,647)	(3,252)	(322)
Share premium	12,279	11,888
Reserves	14,228	12,292
Accumulated losses	(474,600)	(235,435)
Total equity	(448,120)	(212,862)	(127,933)	(60,722)
Separate [Member]
Non-current assets
Intangible assets	1,778	1,798
Amount due from subsidiaries	70,560	70,682
Total non-current assets	72,338	72,480
Current assets
Deposits, prepayments and deferred expenses		2,812
Financial assets at FVTPL	19,067	23,744
Cash and cash equivalents	6,001	32,861	$ 73,621	$ 28,755
Total current assets	25,068	59,417
Total assets	97,406	131,897
Current liabilities
Other payables and accruals	2,986	4,690
Financial liabilities arising from unvested restricted shares	68	1,647
Total current liabilities	3,054	6,337
Net current assets	22,014	53,080
Total assets less current liabilities	94,352	125,560
Non-current liabilities
Convertible preferred shares	511,861	322,215
Deficit in subsidiaries	30,611	16,207
Total non-current liabilities	542,472	338,422
Net liabilities	(448,120)	(212,862)
Equity
Share capital	41	40
Treasury shares	(68)	(1,647)
Share premium	12,279	11,888
Reserves	14,228	12,292
Accumulated losses	(474,600)	(235,435)
Total equity	$ (448,120)	$ (212,862)

Income Tax (Credit) Expense - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Income Tax [Line Items]
Profit (loss) from operating activities	$ 976
Tax recoverable	205
Income tax credits and adjustments recognised in profit or loss	0	$ 0
Tax expense (income)	1	1	$ (85)
Accounting profit	$ (240,810)	$ (94,796)	$ (74,905)
Apollomics Australia Pty Ltd [Member]
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	25.00%	26.00%	30.00%
UNITED STATES \| Federal Income Tax Rate [Member]
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	21.00%
UNITED STATES \| State And Local Income Tax Rate [Member]
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	8.84%
CHINA
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	25.00%	25.00%	25.00%
Tax expense (income)			$ 0
Accounting profit			0
Tax effect of tax losses			$ 0
HONG KONG
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	16.50%
Tax expense (income)	$ 0
Accounting profit	0
Tax effect of tax losses	$ 0
AUSTRALIA
Disclosure Of Detailed Information About Income Tax [Line Items]
Tax expense (income)		$ 0
Accounting profit		0
Tax effect of tax losses		$ 0

Financial Assets at FVTPL

12 Months Ended

Dec. 31, 2022

Financial assets at fair value through profit or loss [abstract]

Financial Assets at FVTPL

19.	FINANCIAL ASSETS AT FVTPL

The financial assets at FVTPL of US$23,744 and US$19,067 as of December 31, 2021 and 2022 respectively, represents investment in a market fund in the US, which solely holds investments in the US treasury bonds. Details of fair value measurement are set out in Note

Right-of-Use Assets (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of quantitative information about right-of-use assets [abstract]

Summary of Quantitative Information about Right-of-Use Assets


	Offices			Plant and equipment			Total
	US$			US$			US$
COST
As of January 1, 2021		2,319			57			2,376
Additions		48			5			53

As of December 31, 2021		2,367			62			2,429
Additions		538			10			548
Derecognised upon end of lease term		(40	)		(13	)		(53	)

As of December 31, 2022		2,865			59			2,924

DEPRECIATION
As of January 1, 2021		(836	)		(29	)		(865	)
Provided for the year		(513	)		(15	)		(528	)

As of December 31, 2021		(1,349	)		(44	)		(1,393	)
Provided for the year		(579	)		(14	)		(593	)
Derecognised upon end of lease term		40			13			53

As of December 31, 2022		(1,888	)		(45	)		(1,933	)

CARRYING VALUES
As of December 31, 2021		1,018			18			1,036

As of December 31, 2022		977			14			991

Summary of Right-of-Use-Assets Depreciated Over Lease Term

The

right-of-use

assets are depreciated over the lease terms using straight-line method.


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Expense relating to short-term leases		38		56		96

Total cash outflow for leases		582		667		782

Convertible Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2022

Convertible Preferred Shares [Abstract]

Disclosure of Preferred Shares Issued Pursuant to Subscription Agreement

The Company entered into preferred share subscription agreements with several independent investors and the details of issued preferred shares (the “Preferred Shares”) are set out as follows:


	Date of issue	Total number of Preferred Shares issue		Subscription price per share		Subscription price total
				US$		US$
Series A1 Preferred Shares	July 26, 2016 to July 28, 2016		88,038,389		0.04543		4,000
	January 31, 2019		44,019,194		0.04543		2,000

			132,057,583				6,000

Series A2 Preferred Shares	July 21, 2017 to
	July 25, 2017		73,371,157		0.05111		3,750

Series B Preferred Shares	September 19, 2018 to December 27, 2018		260,709,579		0.3329		86,800
	January 8, 2019 to March 25, 2019		36,643,370		0.3329		12,200

			297,352,949				99,000

Series C Preferred Shares	September 10, 2020 to September 30, 2020		141,692,465		0.4845		68,650
	October 5, 2020 to November 5, 2020		114,757,479		0.4845		55,600

			256,449,944				124,250

Disclosure of Movement in Preference Shares at End of Each Reporting Period

The movement of the Preferred Shares at the end of each reporting period is as follows:


	Preferred Shares
	US$
As of January 1, 2020		133,969
Issue of Series C Preferred Shares		124,250
Change in fair value		26,572

As of December 31, 2020		284,791
Change in fair value		37,424

As of December 31, 2021		322,215
Change in fair value		189,646

As of December 31, 2022		511,861

Disclosure of Significant Unobservable Inputs Used in Measuring the Fair Value of Convertible Preferred Shares


	As of December 31,
	2020			2021			2022
Time to liquidation		1.5 years			1.5 years			1.25 years
Risk-free rate		0.12	%		0.56	%		4.65	%
Expected volatility (note)		80	%		72.5	%		75	%
Dividend yield		0	%		0	%		0	%
Possibility under IPO scenario		45	%		25	%		85	%
Possibility under liquidation scenario		55	%		75	%		15	%

Note:

The expected volatility measured at the standard deviation is based on the historical data of the daily share price movement of comparable companies.

Share-Based Payment Transactions - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares yr $ / shares	Dec. 31, 2021 USD ($) shares yr $ / shares	Dec. 31, 2020 USD ($) shares yr $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award term of stock options \| yr	6.078	6.078	6.078
Two Thousand and Sixteen Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based number of shares authorized for issuance	337,225,866	337,225,866
Weighted average remaining contractual life of outstanding share options	7 years 4 months 24 days	8 years 2 months 12 days	8 years 10 months 24 days
Weighted average fair value per share of share options granted \| $ / shares	$ 0.1403	$ 0.1471	$ 0.1171
Share based compensation by share based award number of options excercised during the period	8,552,187	6,511,135	25,949,960
Two Thousand and Sixteen Plan [Member] \| Share Appreciation Rights,Restricted Share Unit Awards And Other Awards [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award number of instrument granted in a share based payment arrangement	0	0	0
Two Thousand and Sixteen Plan [Member] \| Restricted Share Awards [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Notice period threshold post termination of employment repurchase option	60 days
Allocated share based compensation \| $	$ 39	$ 7	$ 89
Two Thousand and Sixteen Plan [Member] \| Time Based Restricted Shares [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based vesting period	48 months
Share based compensation by share based award initial vesting percentage	25.00%
Share based compensation by share based award remaining vesting period	36 months
Two Thousand and Sixteen Plan [Member] \| Time Based Restricted Shares [Member] \| Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award weighted average exercise price of equity instruments other than optiions granted \| $ / shares	$ 0.003
Two Thousand and Sixteen Plan [Member] \| Time Based Restricted Shares [Member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award weighted average exercise price of equity instruments other than optiions granted \| $ / shares	$ 0.01
Two Thousand and Sixteen Plan [Member] \| Milestone Based Restricted Shares [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award equity instruments other than options vested during the period	0	0	6,930,235
Two Thousand and Sixteen Plan [Member] \| Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Allocated share based compensation \| $	$ 3,543	$ 8,115	$ 4,421
Share based compensation by share based award term of stock options \| yr	10
Allocated share based compensation consulting fees \| $	$ 27	$ 129	$ 18
Two Thousand and Sixteen Plan [Member] \| Time Based Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award vesting period minimum	24 months
Share based compensation by share based award vesting period Maximum	48 months
Share based compensation by share based award initial vesting percentage one	25.00%
Share based compensation by share based award initial vesting percentage two	50.00%
Share based compensation by share based award remaining vesting period minimum	12 months
Share based compensation by share based award remaning vesting period maximum	36 months
Two Thousand and Sixteen Plan [Member] \| Time Based Share Options [Member] \| Dr Yu [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based award number of options excercised during the period			11,918,299
Share based compensation by share based award unvested early exercised share options outstanding	0	5,991,847

Financial Instruments - Summary of Categories of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets
Financial assets at FVTPL	$ 19,067	$ 23,744
Amortized cost	39,983	78,702
Financial liabilities
Financial liability at FVTPL	511,861	322,215
Amortized cost	$ 7,606	$ 7,654

Other Gains and Losses - Summary of Information about Other Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Other Gains and Losses [Abstract]
Exchange gains (losses), net	$ (829)	$ 36	$ 144

Deferred Taxation - Summary of Unrecognized Tax Losses will be Carried Forward and Expire in Years (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	$ 63,478	$ 33,135
2023 [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	612	612
2024 [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	2,364	2,364
2025 [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	4,634	4,634
2026 [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	7,025	7,025
2027 [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	15,757	0
Indefinite [Member]
Disclosure Unrecognized Tass Losses [Line Items]
Unused tax losses for which no deferred tax asset recognised	$ 33,086	$ 18,500

Critical Accounting Judgment and Key Sources of Estimation Uncertainty - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure Of Accounting Judgements And Estimates [Line Items]

Financial liabilities at fair value through profit or loss

$ 511,861

$ 322,215

Fair value change of convertible preferred shares

189,646

37,424

$ 26,572

Carrying amount of intangible assets

14,778

14,798

Impairment and derecognition of intangible assets

3,000

$ 1,000

Patent Rights (not yet available for use) [Member]

Disclosure Of Accounting Judgements And Estimates [Line Items]

Carrying amount of intangible assets

^[1]

14,500

Convertible Preferred Shares [Member]

Disclosure Of Accounting Judgements And Estimates [Line Items]

Financial liabilities at fair value through profit or loss

$ 511,861

$ 322,215

[1]

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Loss before taxation	$ (240,810)	$ (94,796)	$ (74,905)
Adjustments for:
Interest income	(431)	(467)	(330)
Depreciation of plant and equipment	162	133	117
Depreciation of right-of-use assets	593	528	472
Amortization of intangible assets	20	20	20
Impairment loss of an intangible asset		3,000	1,000
Exchange gain or loss	663
Fair value change of financial assets at FVTPL	(323)	(2)	(108)
Fair value change of convertible preferred shares	189,646	37,424	26,572
Finance costs	93	83	72
Share-based payment expenses	3,582	8,122	4,510
Issuance costs for convertible preferred shares			3,782
Non-cash adjustment to other expense	(2,563)
Operating cash flows before movements in working capital	(49,368)	(45,955)	(38,798)
(Increase)/decrease in deposits, prepayments and deferred expenses	3,651	(453)	(940)
Increase in other payables and accruals	2,837	3,096	4,001
NET CASH USED IN OPERATION	(42,880)	(43,312)	(35,737)
Taxation refund	57		56
Tax paid	(1)
NET CASH USED IN OPERATING ACTIVITIES	(42,824)	(43,312)	(35,681)
INVESTING ACTIVITIES
Interest received	431	467	330
Proceeds from redemption of time deposits with original maturity over three months	24,000	71,948	11,000
Purchase of plant and equipment	(367)	(50)	(144)
Purchase of intangible assets		(7,500)	(10,000)
Proceeds from disposal of financial asset at FVTPL	5,000		7,000
Payment for rental deposits	(17)	(25)
Refund of rental deposits	6		8
Placement of time deposits with original maturity over three months		(103,790)	(6,000)
Repayment of loan to a director			131
NET CASH FROM (USED IN) INVESTING ACTIVITIES	29,053	(38,950)	2,325
FINANCING ACTIVITIES
Proceeds on issue of convertible preferred shares			124,250
Proceeds from issue of shares upon exercise of share options	392	141	6,029
Interest paid	(93)	(83)	(72)
Accrued issuance costs paid		(1,173)	(439)
Issuance costs paid for convertible preferred shares			(3,782)
Repayment of lease liabilities	(593)	(528)	(472)
NET CASH FROM (USED IN) FINANCING ACTIVITIES	(294)	(1,643)	125,514
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(14,065)	(83,905)	92,158
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	46,740	130,645	38,487
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	$ 32,675	$ 46,740	$ 130,645

Loss for the Year

12 Months Ended

Dec. 31, 2022

Profit (loss) [abstract]

Loss for the Year

11.	LOSS FOR THE YEAR


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Loss for the year has been arrived at after charging:

Staff costs:
Salaries and other allowances		11,185		18,871		14,966
Retirement benefits scheme contributions		536		749		662
Share-based payment expenses		4,510		8,122		3,582

Total staff costs		16,231		27,742		19,210
Depreciation of plant and equipment		117		133		162
Depreciation of right-of-use assets		472		528		593
Amortization of intangible assets		20		20		20
Impairment loss of an intangible asset		1,000		3,000		—
Other expense (note)		3,307		4,522		6,608

Note:

Other expense represented the expenses incurred and the

expense-off

(“De-SPAC”)

in Nasdaq capital market, see Note 34(d).

Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [line items]

Summary of Property, Plant and Equipment


	Leasehold improvements			Furniture and other equipment			Total
	US$			US$			US$
COST
As of January 1, 2021		117			394			511
Additions		18			32			50

As of December 31, 2021		135			426			561
Additions		—			367			367

As of December 31, 2022		135			793			928

DEPRECIATION
As of January 1, 2021		(49	)		(99	)		(148	)
Provided for the year		(31	)		(102	)		(133	)

As of December 31, 2021		(80	)		(201	)		(281	)
Provided for the year		(34	)		(128	)		(162	)

As of December 31, 2022		(114	)		(329	)		(443	)

CARRYING VALUES
As of December 31, 2021		55			225			280

As of December 31, 2022		21			464			485

Summary of Depreciation Rates of Property Plant and Equipment

The above items of plant and equipment are depreciated over their estimated useful lives, using straight-line method after taking into account the residual values, at the following rates per annum:


		Leasehold improvements		Over the shorter of the relevant lease term or 20%
		Furniture and other equipment		14% - 33%

Retirement Benefits Plan - Additional information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefits [Abstract]
Total cost charged to profit or loss	$ 662	$ 749	$ 536

Subsequent Events - Additional information (Detail) $ / shares in Units, $ in Thousands		3 Months Ended
	Feb. 09, 2023 USD ($) $ / shares shares	Apr. 13, 2023 shares $ / shares
Disclosure of non-adjusting events after reporting period [line items]
Share exchange ratio	0
Common Stock Shares Issued In Exchange Of Ordinary Shares Held In The Previous Company [Member]
Disclosure of non-adjusting events after reporting period [line items]
Par value per share \| $ / shares	$ 0.0001
Common Stock Shares Issued In Exchange Of Ordinary Shares Held In The Previous Company [Member] \| Class A Common Stock [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	3,312,715
Class of warrant or rights number of shares to be issued on exercise of each warrant	1
Common stock shares conversion ratio for each share held in the previous company	1
Class of warrants or rights outstanding	10,814,150
Common Stock Shares Issued In Exchange Of Ordinary Shares Held In The Previous Company [Member] \| Preclosing Apollomics Ordinary Shares [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	759,231,633
Par value per share \| $ / shares	$ 0.0001
Number of preferred shares converted into ordinary shares	759,231,633
Preferred Shares Converted Into Ordinary Shares After Closing [Member]
Disclosure of non-adjusting events after reporting period [line items]
Numerator for calculating the share exchange ratio	89,900,000
Preferred Shares Converted Into Ordinary Shares After Closing [Member] \| Class B Common Stock [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	1,161,471,793
Par value per share \| $ / shares	$ 0.0001
Number of preferred shares converted into ordinary shares	83,253,123
Preferred Shares Converted Into Ordinary Shares After Closing [Member] \| Preclosing Apollomics Ordinary Shares [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of preferred shares converted into ordinary shares	1,161,471,793
Pipe Subscription Agreement [Member] \| Major ordinary share transactions [Member] \| Class B Common Stock [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	230,000
Conversion ratio for conversion of preferred stock into common stock	1.25
Class of warrant or rights number of shares to be issued on exercise of each warrant	1
Pipe Subscription Agreement [Member] \| Major ordinary share transactions [Member] \| Series A Preferred Shares [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	2,135,000
Pipe Subscription Agreement [Member] \| Major ordinary share transactions [Member] \| Series A Preferred Shares [Member] \| Maxpro Investment Company Limited [Member]
Disclosure of non-adjusting events after reporting period [line items]
Increase decrease in the number of shares issued	2,100,000
Issue of equity \| $	$ 21,000
Pipe Subscription Agreement [Member] \| Major ordinary share transactions [Member] \| Class B Common Stock And Series A Preferred Shares [Member]
Disclosure of non-adjusting events after reporting period [line items]
Sale of stock issue price per share \| $ / shares	$ 0.01
Issue of equity \| $	$ 23,650
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Issue Of Share Options [Member] \| Consultants And Certain Employees [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award options granted during the period		42,127,240
Exercise price of share options granted \| $ / shares	$ 0.7176
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Issue Of Share Options [Member] \| Consultants And Certain Employees [Member] \| Vesting Condition For One Lakh Options Granted [Member] \| Vesting Tranche One [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award options granted during the period		100,000
Share based compensation by share based award vesting period		24 months
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Issue Of Share Options [Member] \| Consultants And Certain Employees [Member] \| Vesting Condition For Remaining Options Granted [Member] \| Vesting Tranche Two [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award vesting period		36 months
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Issue Of Share Options [Member] \| Consultants And Certain Employees [Member] \| Vesting Condition For Remaining Options Granted [Member] \| Vesting Tranche Two [Member] \| Twenty Four Months [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award vesting percentage		25.00%
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Issue Of Share Options [Member] \| Consultants And Certain Employees [Member] \| Vesting Condition For Remaining Options Granted [Member] \| Vesting Tranche Two [Member] \| Thirty Six Months [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award vesting percentage		75.00%
Two Thousand And Sixteen Equity Incentive Plan [Member] \| Excercise Of Share Options [Member] \| Consultants And Certain Employees [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share based compensation by share based award number of options excercised during the period		435,833
Share based compensation by share based award share options excercised weighted average exercise price \| $ / shares		$ 0.0816

Right-of-Use Assets

12 Months Ended

Dec. 31, 2022

Disclosure of quantitative information about right-of-use assets [abstract]

Right-of-Use Assets

15.	RIGHT-OF-USE ASSETS


	Offices			Plant and equipment			Total
	US$			US$			US$
COST
As of January 1, 2021		2,319			57			2,376
Additions		48			5			53

As of December 31, 2021		2,367			62			2,429
Additions		538			10			548
Derecognised upon end of lease term		(40	)		(13	)		(53	)

As of December 31, 2022		2,865			59			2,924

DEPRECIATION
As of January 1, 2021		(836	)		(29	)		(865	)
Provided for the year		(513	)		(15	)		(528	)

As of December 31, 2021		(1,349	)		(44	)		(1,393	)
Provided for the year		(579	)		(14	)		(593	)
Derecognised upon end of lease term		40			13			53

As of December 31, 2022		(1,888	)		(45	)		(1,933	)

CARRYING VALUES
As of December 31, 2021		1,018			18			1,036

As of December 31, 2022		977			14			991

The

right-of-use

assets are depreciated over the lease terms using straight-line method.


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Expense relating to short-term leases		38		56		96

Total cash outflow for leases		582		667		782

Lease contracts are entered into for fixed terms of 12 months to 60 months, without extension and termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. In determining the lease term and assessing the length of the

non-cancellable

period, the Group applies the definition of a contract and determines the period for which the contract is enforceable.

The Group regularly entered into short-term leases for plant and equipment and laboratory premise. As of December 31, 2021 and 2022, the portfolio of short-term leases is similar to the portfolio of short-term leases to which the short-term lease expense disclosed above.

Restrictions or covenants on leases

In addition, lease liabilities of US$1,036 and US$991 are recognized with related

right-of-use

assets of US$1,036 and US$991

as of

December 31, 2021 and 2022, respectively. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes.

Loss Per Share - Disclosure of Basic and Diluted Loss Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [line items]
Loss for the year attributable to owners of the Company for the purpose of calculating basic and diluted loss per share	$ (240,811)	$ (94,797)	$ (74,820)
Weighted average number of ordinary shares used in calculating basic earnings per share	390,944	404,186	361,480
Weighted average number of ordinary shares used in calculating diluted earnings per share	390,944	404,186	361,480

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2022-03-24
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2022-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2022-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2022-03-24
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2022-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2022-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2022-03-24
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2022-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2022-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2022-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2022-03-24
-Paragraph 39L
-Subparagraph e
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2022-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2022-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23&doctype=Standard
-URIDate 2022-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2022-03-24
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2022-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2022-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2022-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2022-03-24

+ Details

Finance Costs (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Finance Cost [Abstract]

Summary of Information about Finance Costs


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Interest expenses on lease liabilities		72		83		93

Subsequent Events

12 Months Ended

Dec. 31, 2022

Disclosure of non-adjusting events after reporting period [abstract]

Subsequent Events

34.	SUBSEQUENT EVENTS

The Group has evaluated subsequent events through

April 28 ,

2023, which is the date when the consolidated financial statements were available to be issued.

From January 2023 to April 2023, the Company granted 42,127,240 share options to certain employees and consultants with exercise price of US$ 0.7176 per share. Out of which, 100,000

share options granted shall vest ratably on a monthly basis over

24-months

vesting period; for the remaining grants, the vesting conditions are that one forth (25%) of these share options shall vest on the first anniversary of the vesting inception date and the remaining portion (75%) of the share options shall be vested ratably on a monthly basis over

36-months

vesting

period;

From January 2023 to April 2023, share option holders exercised their rights to subscribe for 435,833 ordinary shares in the Company at a weighted average exercise price of US$ 0.0816 per share;

On February 9, 2023, in connection with the business combination (as detailed in note

d below), Apollomics entered into Subscription Agreements (the “Subscription Agreements”) with certain accredited investors including Maxpro Investment Co., Ltd., an affiliate of MP One Investment LLC, a Delaware limited liability company, Maxpro’s sponsor (the “Sponsor”) (collectively, the “PIPE Investors”), pursuant to which the PIPE Investors subscribed to purchase an aggregate of (i) 230,000 Apollomics Class B Ordinary Shares at US$10.00 per share (“PIPE Class B Shares”) and (ii) 2,135,000 Series A Preferred Shares of Apollomics (the “Apollomics Series A Preferred Shares” and, together with the PIPE Class B Shares, the “PIPE Shares”) at US$10.00 per share, for gross proceeds to Apollomics of US$23,650. Each Apollomics Series A Preferred Share is convertible, at any time at the option of the holder thereof, into Apollomics Class A Ordinary Shares at an initial conversion ratio of

1:1.25

. Each PIPE Investor who subscribed for PIPE Class B Shares received

one-fourth

of one warrant of Apollomics (the “Penny Warrants” and, together with the PIPE Shares, the “PIPE Securities”) for every PIPE Class B Share purchased, each whole Penny Warrant exercisable to purchase one Apollomics Class A Ordinary Share for US$0.01 per share (collectively, the “PIPE Financing”). Maxpro Investment Co., Ltd. has subscribed to purchase 2,100,000 of such Apollomics Series A Preferred Shares for an aggregate purchase price of US$21,000. The PIPE Financing closed immediately prior to the completion of business

combination;

The Company completed its business combination on March 29, 2023 (the “Closing Date”), pursuant to the

business

combination agreement (as amended, the “BCA”), by and among the Company, Maxpro Capital Acquisition Corp., a Delaware Corporation (“Maxpro”), and Project Max SPAC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Apollomics (“Merger Sub”). Apollomics’ Class A Ordinary Shares and Warrants began trading on The Nasdaq Stock Market LLC on March 30, 2023 under the symbols “APLM” and “APLMW”, respectively.

On the Closing Date, Merger Sub merged with and into Maxpro (the “Business Combination”), and Merger Sub ceased to exist and Maxpro continued as the surviving corporation, as a result of which: (A) Apollomics issued a total of 3,312,715

Class A Ordinary Shares, for Maxpro Class A common stock (“Maxpro Class A Common Stock”) acquired by virtue of the Business Combination on a

one

for-one basis; and (B) a total of

10,814,150

issued and outstanding Maxpro warrants to purchase a share of Maxpro Class A Common Stock were assumed by Apollomics and each became exercisable for

one

Apollomics Class A Ordinary Share.

Immediately prior to the Closing Date, a total of

759,231,633

Apollomics pre-closing preferred shares, par value

0.0001

per share, were converted (the “Pre-Closing Conversion”) into

759,231,633

ordinary shares of

Apollomics

, par value

0.0001

per share

(“Pre-Closing

Apollomics Ordinary Shares”).

Immediately following the Pre-Closing Conversion, but prior to the

losing, a total of

1,161,471,793

issued and outstanding Pre-Closing Apollomics Ordinary Shares were converted into

83,253,123

Class B ordinary shares, par value

0.0001

per share equal to the product of (A) the

1,161,471,793

number of Pre-Closing Apollomics Ordinary Shares prior to the conversion, multiplied by (B) the Exchange Ratio which is 0.071679. The “Exchange Ratio” was equal to

89.9

million

Pre-Closing

Apollomics Ordinary Shares divided by the aggregate number of fully-diluted Apollomics shares (as further described in the BCA) immediately prior to the conversion.

The business combination was effected through the issuance of shares of Apollomics to Maxpro stockholders, and therefore Apollomics is the accounting acquirer. Subsequent to the Business Combination, Apollomics’ shareholders have a majority of the voting power of Apollomics, Apollomics’ operations comprise all of the ongoing operations of Apollomics, Apollomics controls a majority of the current governing body of Apollomics, and Apollomics’ senior management comprises all of the senior management of Apollomics following the completion of the Business Combination. As Maxpro does not meet the definition of a business in accordance with IFRS 3 Business Combinations, Apollomics accounted for acquisition of Maxpro by recognizing the individual assets acquired, the stock exchange listing service acquired, the liabilities assumed in the transaction, and cash. The fair value of Apollomics shares transferred to Maxpro stockholders in excess of the fair value of net identifiable assets of Maxpro represents compensation for the service of a stock exchange listing for its shares and is accounted for as an expense in Post-Closing Apollomics at the consummation of the business combination, with no goodwill and intangible asset recorded.

The Group is still assessing the financial impacts of the Business Combination.

Revenue and Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of geographical areas [line items]

Summary of Information about Groups Non Current Assets by Geographical Location

Information about the Group’s

non-current

assets, excluding rental deposits and time deposits with original maturity over three months, by geographical location of the assets is detailed below:


	As of December 31,
	2021		2022
	US$		US$
PRC		13,358		13,712
US		2,756		2,542

		16,114		16,254

Related Party Disclosures

12 Months Ended

Dec. 31, 2022

Related Party Disclosures

30.	RELATED PARTY DISCLOSURES

(i)

Transactions

Save as disclosed elsewhere in the consolidated financial statements, the Group also entered into the following transactions with its related party:

Years ended December 31,

Related parties

Relationship

Nature of transactions

2020

2021

2022

US$

Dr. Redkar

Executive director of the Company

Loan interest income

—

(ii)

Balances

As of January 1, 2020, the balance of loan to a director is US$131. The amount is due from Dr. Redkar and secured by 40,849,813 ordinary shares of the Company held by Dr. Redkar, carrying interest at 2.07% per annum and repayable on demand. During the year ended December 31, 2020, the loan was fully repaid.

The maximum amount outstanding during the year ended December 31, 2020 were US$133.

(iii)

Compensation of key management personnel

The remuneration of directors of the Company and other members of key management were as follows:


	Years ended December 31,
	2020		2021		2022
	US$		US$		US$
Short term benefits		1,685		2,214		2,473
Retirement benefit scheme contributions		9		12		12
Share-based payment		3,681		6,131		1,820

		5,375		8,357		4,305

The remuneration of key management personnel is determined by the directors of the Company having regard to the performance of individuals and market trends.

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Net liabilities	$ (448,120)	$ (212,862)
Convertible Preferred Shares, Carrying Amount	378,332	274,966
Level 3 of fair value hierarchy [member]
Disclosure of detailed information about financial instruments [line items]
Gains (losses) recognised in profit or loss excluding exchange differences, fair value measurement, liabilities	$ 189,646	$ 37,424	$ 26,572
Convertible Preferred Shares [Member] \| IPO scenario [Member]
Disclosure of detailed information about financial instruments [line items]
Percentage of reasonably possible decrease in unobservable input, liabilities		10.00%
Percentage of reasonably possible increase in unobservable input, liabilities	10.00%
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, liabilities	$ 42,888	$ 23,811
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, liabilities	41,969	22,166
Series A Preferred Shares [Member]
Disclosure of detailed information about financial instruments [line items]
Convertible Preferred Shares, Carrying Amount	$ 133,529	$ 47,249
Currency risk [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of decrease in foreign exchange rate	5.00%
Percentage of decrease increase in Foreign Exchnage Rate	5.00%
Percentage of increase in foreign exchange rate	5.00%

Lease Liabilities - Summary of Detailed Information About Contractual Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Lease Liabilities [Line Items]
Lease liabilities payable	$ 991	$ 1,036
Less: Amount due for settlement within 12 months shown under current liabilities	(614)	(508)
Amount due for settlement after 12 months shown under non-current liabilities	377	528
Within one year [member]
Disclosure of Lease Liabilities [Line Items]
Lease liabilities payable	614	508
More than one year, but not exceeding two years [member]
Disclosure of Lease Liabilities [Line Items]
Lease liabilities payable	126	476
More than two years, but not exceeding five years [member]
Disclosure of Lease Liabilities [Line Items]
Lease liabilities payable	$ 251	$ 52

Financial Liabilities Arising from Unvested Restricted Shares

12 Months Ended

Dec. 31, 2022

Disclosure of financial liabilities [abstract]

Financial Liabilities Arising from Unvested Restricted Shares

22.	FINANCIAL LIABILITIES ARISING FROM UNVESTED RESTRICTED SHARES


	As of December 31,
	2021		2022
	US$		US$
Payables in respect of unvested restricted shares attributable to:
Dr. Yu (the chief executive of the Company)		1,647		68

The amounts represented the repurchase option held by the Company in relation to (i) the unvested restricted shares granted to directors and an employee of the Company; and (ii) the unvested restricted shares issued to a director of the Company who was the share option holder and had elected to early exercise the share options during the vesting period. Details of the restricted share award and share options are set out in Note 26.

Loss Per Share - Disclosure of Detailed Information about Anti Dilutive Securities Excluded from Computation of Diluted Loss Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Options [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	135,979,705	155,059,183	151,133,235
Unvested Restricted Shares [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	6,930,235	8,094,901	14,447,616
Series A1 Preferred Shares [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	132,057,583	132,057,583	132,057,583
Series A2 Preferred Shares [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	73,371,157	73,371,157	73,371,157
Series B Preferred Shares [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	297,352,949	297,352,949	297,352,949
Series C Preferred Shares [Member]
Earnings per share [line items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	256,449,944	256,449,944	256,449,944

Income Tax (Credit) Expense - Summary of Income Tax Expense Income Reconciled to Loss Before Taxation as Per Consolidated Statements (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022
Disclosure Of Detailed Information About Income Tax [Line Items]
Percentage of income tax deduction in respect of qualifying research and development expenditures incurred	75.00%
UNITED STATES \| Federal Income Tax Rate [Member]
Disclosure Of Detailed Information About Income Tax [Line Items]
Applicable tax rate	21.00%

Schedule I - Condensed Profit or Loss and Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Condensed Profit or Loss and Other Comprehensive Income of Parent Company [Line Items]
Other income	$ 1,447	$ 1,054	$ 2,060
Other gains and losses	(829)	36	144
Fair value change of financial assets at FVTPL	323	2	108
Fair value change of convertible preferred shares	(189,646)	(37,424)	(26,572)
Research and development expenses	(35,457)	(35,568)	(31,441)
Administrative expenses	(9,947)	(15,291)	(11,043)
Issuance costs for convertible preferred shares			(3,782)
Other expense	(6,608)	(4,522)	(3,307)
Loss before taxation	(240,810)	(94,796)	(74,905)
Income tax credit (expense)	1	1	(85)
Loss and total comprehensive expenses for the year, attributable to owners of the Company	(240,811)	(94,797)	(74,820)
Separate [Member]
Disclosure of Condensed Profit or Loss and Other Comprehensive Income of Parent Company [Line Items]
Other income	112	42	91
Other gains and losses			(88)
Fair value change of financial assets at FVTPL	323	2	108
Fair value change of convertible preferred shares	(189,646)	(37,424)	(26,572)
Research and development expenses	(992)	(2,643)	(2,131)
Administrative expenses	(1,982)	(4,494)	(4,877)
Issuance costs for convertible preferred shares			(3,782)
Other expense	(5,532)	(4,522)	(3,307)
Share of loss in subsidiaries	(43,094)	(45,757)	(34,347)
Loss before taxation	(240,811)	(94,796)	(74,905)
Income tax credit (expense)	0
Loss and total comprehensive expenses for the year, attributable to owners of the Company	$ (240,811)	$ (94,796)	$ (74,905)

Share-Based Payment Transactions - Summary of Company's Share Options (Detail) - Two Thousand and Sixteen Plan [Member]	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares	Dec. 31, 2020 shares $ / shares
Disclosure Of Movement In The Share Options [Line Items]
Number of Options, Beginning	155,059,183	151,133,235	57,835,912
Number of Options, Granted	11,500,000	39,715,000	119,663,533
Number of Options, Exercised	(8,552,187)	(6,511,135)	(25,949,960)
Number of Options, Forfeited	(22,027,291)	(29,277,917)	(416,250)
Number of Options, Ending	135,979,705	155,059,183	151,133,235
Number of Option, Excercisable	67,667,737	78,269,054	41,736,788
Weighted average exercise price, Beginning \| $ / shares	$ 0.203	$ 0.169	$ 0.015
Weighted average exercise price, Granted \| $ / shares	0.31	0.279	0.256
Weighted average exercise price, Exercised \| $ / shares	0.046	0.022	0.232
Weighted average exercise price, Forfeited \| $ / shares	0.232	0.169	0.061
Weighted average exercise price, Ending \| $ / shares	$ 0.217	$ 0.203	$ 0.169